Mumbai's Navratri Home Registrations Fell 25% This Year. Here's What That Really Means for You

Every year, a lot of Mumbai families wait for Navratri to sign for a home. It feels like the right moment, and for many people it is. So when this week's headline says "registrations down 25%", it's natural to wonder whether something has gone wrong with the market.

My reading is that the headline is real, but it tells only half the story. Let me walk you through what the data actually says, and what I'd do with it if I were buying, selling or owning a flat in Mumbai right now.

What happened to Mumbai property registrations in Navratri 2026?

According to a Knight Frank India analysis reported by Business Today on 24 October 2026, Mumbai (within BMC limits) recorded 4,680 property registrations during Navratri, between 11 and 19 October 2026. In the same festive window last year, the city recorded 6,238. That is a fall of about 25%, or 1,558 fewer registrations.

The figures come from the Maharashtra Department of Registration and Stamps, analysed by Knight Frank. Here is how the last three Navratri seasons compare:

• 2024: 5,199 registrations, Rs 502 crore in registration revenue
• 2025: 6,238 registrations, Rs 587 crore
• 2026: 4,680 registrations, Rs 499 crore

So this year was the lowest of the three, about 10% below 2024 as well. Revenue fell about 15% from last year, a smaller drop than the fall in the number of deals. Whalesbook reported the same 25% fall and Rs 499 crore figure.

Why did registrations fall this Navratri?

Two plain reasons stand out in the reports, and neither of them is panic.

First, a very high base. Navratri 2025 was the strongest of the three years. Comparing against a record makes any normal year look weak.

Second, fewer working days. This year's window ran nine calendar days but included two Sundays, so there were only seven registration days. Last year's window, 22 September to 1 October, had nine registration days.

When you divide by working days, the picture changes a lot. Mumbai averaged roughly 669 registrations per working day this Navratri, against about 693 last year. That is only around 3.5% lower, and still above the 2024 level of over 650 a day. Shishir Baijal, chairman and managing director of Knight Frank India, said registrations moderated against last year's high base, while per-day registrations stayed above 2024 levels and revenue fell less than volumes.

Does the drop mean Mumbai property prices are falling?

Not on this evidence. Revenue held up better than the number of deals. If you divide revenue by registrations, it works out to roughly Rs 10.7 lakh per registration this year, against about Rs 9.4 lakh last year. That is a rough average of government revenue per deal, not a price per flat, but it hints that the average deal may not be getting smaller. Knight Frank itself said the gap "could reflect differences in the value mix of transactions."

It's also worth remembering where we came from. Just a few weeks ago, Knight Frank reported that Mumbai registered 12,622 properties in September 2026, up 5% on September 2025, with 5,379 registrations during the festive period of 14 to 25 September. I wrote about that in our post on September's 14-year high. One quieter festive week does not undo that.

My take: I'd treat this as a normal breather after a very busy stretch, not a turning point. Mr Baijal also said the next phase will depend on how demand shifts across price segments and how well supply matches what buyers want. That's the part worth watching.

Is more supply coming to Mumbai and Thane?

Yes, and quite a lot of it. Mumbai Live reported on 23 October 2026 that MahaRERA approved 435 new housing projects ahead of Dussehra, 201 of them in the Mumbai Metropolitan Region. That includes 70 in Thane, 63 in Mumbai city and suburbs, 36 in Raigad and 25 in Palghar. MahaRERA also approved 210 deadline extensions for existing projects.

For buyers, more choice is good news, but 210 extensions in one round is also a reminder that possession dates move. Before you book, check the project on MahaRERA and read the timeline carefully. Our new projects page is a good place to start comparing.