Navratri’26 Mumbai property registrations fall 25% YoY

During this year’s Navratri housing sales moderated and as per data sourced from Maharashtra Department of Registrations & Stamps by Knight Frank, Mumbai city, covering the area under the Brihanmumbai Municipal Corporation (BMC) recorded 4,680 property registrations during the nine days of Navratri, from October 11 to 19, 2026 which was 25% lower than the 6,238 registrations recorded during previous Navratri.

Revenue collections declined less sharply than registration volumes. Collections fell 15% year over year to ₹499 crore from ₹587 crore in Navratri 2025, while average daily collections declined from ₹59 crore to ₹55 crore, it said.

The decline follows a strong performance last year, when registrations had risen 20% YoY, marking the highest festive-period tally in the years.

Shishir Baijal, International Partner, Chairman and Managing Director, Knight Frank India, said, “Navratri registrations have moderated against the high base set last year, but the daily figures offer a more measured view of the market activity.”

“Registrations per working day remained above 2024 levels in 2026, while revenue has declined less sharply than transaction volumes. Together, these trends suggest that Mumbai’s housing market continues to see buyer participation, even as festive-period activity normalises,” he said.

“The next phase of market performance will depend on how demand evolves across price segments and how effectively housing supply aligns with buyer preferences,” he added.

The smaller decline in revenue relative to registrations suggests that the value mix of transactions may have supported collections. However, revenue data alone do not establish whether higher-value homes accounted for a larger share of purchases, he further said.