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New Delhi: Registration of properties in Mumbai The city saw a 7 per cent year-on-year growth at 8,694 units during the month due to better demand. knight frank india, Property consultant Knight Frank India said Mumbai city (area under BMC jurisdiction) saw property sale registration of 8,694 units in January 2023, contributing over Rs 658 crore to the state’s revenue. The registration figure is till 12 noon and will go up slightly by the end of the day.
84% of the total registered properties were registered Residential While 16 per cent were non-residential properties.
The data pertains to transactions of all types of properties in the primary (new sale) and secondary (re-sale) markets – residential, commercial and others.
However, registration of properties fell by 7 per cent in January as compared to December, which saw registration of 9,367 units.
Shishir Baijal“Consumer propensity to buy homes despite strong headwinds has boosted residential property sales in Mumbai,” said Knight Frank India Chairman and Managing Director.
He said that despite rising home loan rates, absence of state government concessions and increase in property prices in the last one year, the demand remains strong.
Baijal said, “The Maharashtra government continues to be the major beneficiary of demand. While the repo rate is likely to increase soon, we expect the positive demand sentiment to remain largely unchanged as Indian economic growth prospects remain strong.”
Registration of properties in Mumbai city rose 9 per cent year-on-year to 1,22,035 units during the 2022 calendar year – the highest in the last decade – on improved demand.
1,11,913 units were registered during the 2021 calendar year.
Registration of properties stood at 64,242 units in 2013; 63,636 units in 2014; 67,400 units in 2015; 63,255 units in 2016; 68,659 units in 2017; 80,746 units in 2018; 67,863 units in 2019; and 65,633 units in 2020.
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