Housing registration in Mumbai decline 4% YoY, mortgage rate cut likely to improve sales: Report

Mumbai (Maharashtra) [India], June 3 (ANI): The house registrations in Mumbai decline 4 per cent YoY in May and down 12 per cent MoM to 11,565 units, says a report by Nuvama Research.
According to report, despite the decline in the number of registrations, the total value of registrations rose 3 per cent YoY to Rs 177 billion. On a monthly basis, the registration value dropped 5 per cent.
In the first five months of 2025 (January to May), Mumbai recorded 61,461 housing unit registrations, which is 6 per cent higher compared to the same period last year.
By value, registrations rose 17 per cent YoY to Rs 949 billion. The average ticket size of the registered properties also increased 11 per cent YoY to Rs 14.7 million.
In Maharashtra, the number of property registrations in May 2025 stood at 148,080 units. This is a 2 per cent decline YoY but a 2 per cent increase compared to April 2025.
The report also said that 80 per cent of the total registrations in Mumbai were residential properties. Compact homes, those below 1,000 square feet, continued to dominate the market.
Among these, homes sized between 500 and 1,000 square feet were the most preferred, accounting for about 44 per cent of all registrations.
Larger homes, those above 1,000 square feet, made up 17 per cent of total registrations in May 2025, compared to 15 per cent in May 2024. This share remained flat on a monthly basis.
The report also highlighted that the central and western suburbs were the most active areas, contributing to 87 per cent of the total registrations during the month.
The report noted a 1 per cent YoY increase in the share of registrations from central and south Mumbai. This indicates a rise in demand for premium homes in these areas, likely due to new project launches and ongoing infrastructure development.
Highlighting the outlook of the sector the report added that "A robust launch trajectory and mortgage rate cut are likely to improve sales in Mumbai going ahead".
Overall, year-to-date registrations in 2025 stood at 64,461 units, up 6 per cent YoY. Looking ahead, the report said that a strong pipeline of upcoming housing projects and a possible reduction in mortgage rates could lead to better sales in Mumbai in the coming months. (ANI)