Navratri drives 20% surge in Mumbai property registrations, govt revenue up by 17% to ₹587 cr: Knight Frank India

With festive cheer and the GST 2.0 savings festival, a recent Knight Frank India report revealed a strong rebound in Mumbai’s real estate activity during Navratri 2025. The city recorded 6,238 property registrations between September 22 and October 1, a 20% jump from 5,199 registrations during the same festive period last year.

The report showed that this led to a 17% increase in state revenue as well, rising 17% year-on-year to ₹587 crore.

“Mumbai’s housing market has once again proven its strength, with 6,238 properties registered during Navratri 2025 — a 20% year-on-year growth and the highest festive performance in recent years. This surge, supported by stable interest rates, improving affordability, and the recent GST simplifications, reflects the sustained confidence of homebuyers. The robust revenue collections of ₹587 crore further affirm that buyer sentiment remains firmly positive, establishing a strong foundation for continued momentum in the residential market,” said Shishir Baijal, Chairman & Managing Director, Knight Frank India, in a statement.

The report attributes this increase in revenues to a favourable mix of stable interest rates, improved affordability and growing demand for premium homes. Additionally, the festive demand was supported by the positive sentiments due to GST rate cuts announced earlier in September.

Daily average registrations rose almost 8% from 578 in Navratri 2024 to 624 this year, while revenue per day increased 5% from ₹56 crore to ₹59 crore.

This led to Mumbai seeing its best September in 10 years, clocking 12,070 registrations, buoyed by the festive calendar aligning almost entirely within the month. The early end of the Shraddh period enabled Navratri-led buyer momentum to kick in sooner, unlike last year, the report added.

The Shraddh period is a 15-day phase considered inauspicious for major purchases among Hindu families and precedes Navratri. This year, it fell between September 7 and 21, 2025.

A large part of the overall growth came from improved activity during traditionally subdued periods. Registrations during the Shraddh phase rose to 3,368 units, while revenue jumped 21% to ₹265 crore.