Mumbai records 25% fewer property registrations during Navratri : Knight Frank

Property registrations in Mumbai declined 25 per cent on a year-on-year basis during Navratri period, data compiled by consultancy Knight Frank shows. 

The moderation in sales comes amid tightening of interest rates. Other factors for the decline in registrations include higher base of previous year and fewer working days during the just concluded festive season. 

Between October 11 and 19, Mumbai recorded 4680 property registrations compared to 6238 registrations recorded in festive season last year.  

Stamp duty collection by the government during the period fell 15 per cent year on year to ₹499 crore, while average daily collections declined to ₹55 crore from ₹59 crore in 2025.  

Last year, property registrations witnessed 20 per cent year on year growth during Navratri. Last year’s festive period had only one Sunday. “In contrast this year’s festival period of nine days included two Sundays, leaving seven working days. The lower number of working days coupled with some moderation in demand contributed to the decline in festival season,” the consultancy said. 

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

Published on October 23, 2026