The Mumbai real estate market experienced a significant uptick in property registrations, with 12,315 transactions recorded in May 2026, marking a 7% year-on-year increase and the highest for May in 14 years. This data, analyzed by Knight Frank India, indicates a strong resilience in the residential market. However, the state government collected ₹1,051 crore in stamp duty, a 1% decline from the previous year, suggesting a shift in transaction types. Compared to April 2026, property registrations fell by 14%, while stamp duty collections dropped by 9% month-on-month. The previous peak for May was in 2025, highlighting the ongoing demand from end-users. Shishir Baijal, chairman and managing director of Knight Frank India, noted that despite the slight decrease in stamp duty revenue, the overall market remains robust, supported by improving affordability and a strong preference for homeownership among buyers.