Government revenue generated through property registrations also declined. The state earned Rs 499 crore during Navratri 2026, down 15% from Rs 587 crore recorded during the same period in 2025.
According to data from the Maharashtra government's Registration and Stamps Department, Mumbai registered 4,680 properties during Navratri this year, compared with 6,238 in 2025. However, the difference in the number of available registration days is an important factor in understanding the decline.
Navratri lasted nine days in 2026, but registrations took place on only seven days because two Sundays fell during the festival. In 2025, Navratri lasted 10 days, providing nine days for property registrations. Consequently, while total registrations fell 25%, the average number of daily registrations declined by only 4%.
Mumbai recorded an average of 669 property registrations per registration day during Navratri 2026, compared with 693 a day in 2025. Last year, property registrations during the festival had increased by 20%, marking the highest registration count during the period covered by the report.
The decline in government revenue was also less pronounced than the fall in total registrations. Revenue from property registrations dropped from Rs 587 crore during Navratri 2025 to Rs 499 crore in 2026, representing a 15% annual decline. Average daily revenue also fell from Rs 59 crore to Rs 55 crore, a decrease of approximately 6%.
Knight Frank India Chairman and Managing Director Shishir Baijal said property registrations had moderated during Navratri this year compared with the strong performance recorded in 2025. However, he noted that daily registration figures offered a more balanced picture of market activity.
According to Baijal, the daily registration level in 2026 remained higher than in 2024, while the decline in revenue was smaller than the reduction in the total number of registrations.
These figures suggest that buyer participation in Mumbai's housing market has continued despite a return to more normal levels of festive-period activity. The market's performance in the coming months will depend on demand across different housing price segments and how closely the available housing supply matches buyers' preferences.
The property market also showed a different trend during the Shraddh period compared with Navratri. Shraddh is generally considered less auspicious for major purchases, and property buying activity is often expected to remain subdued during this period. However, Knight Frank India's figures showed a marginal increase in registrations during Shraddh this year.
Between September 26 and October 10, 2026, Mumbai recorded 3,419 property registrations, compared with 3,368 during the corresponding period last year. This represented an increase of approximately 2%. Average daily registrations also rose from 306 in 2025 to 311 in 2026.
Despite the increase in registrations, revenue generated during the Shraddh period declined. Collections fell from Rs 265 crore in 2025 to Rs 255 crore in 2026, marking an annual decrease of approximately 4%. Average daily revenue also dropped from Rs 24 crore to Rs 23 crore.
The contrasting trends during Navratri and Shraddh highlight the importance of examining daily registration activity alongside total transaction volumes and revenue. While Mumbai recorded fewer property registrations during Navratri, the decline in daily activity was limited, and registrations edged up during Shraddh, even as revenue collections fell.
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