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New Delhi: Registration of properties in Mumbai The city’s occupancy fell 11 per cent year-on-year to 9,268 units in February amid a rise in home loan interest rates. knight frank india, In February last year, 10,379 properties were registered. The registration of properties in February 2021 stood at 10,172.
Mumbai city (under sector) said in a statement real estate consultant Knight Frank India BMC jurisdiction) saw property sale registration of 9,268 units in February 2023.
The registration of properties contributed over Rs 1,084 crore to the state’s revenue.
Of the total properties registered, 82 per cent were residential properties while 18 per cent were non-residential properties.
Shishir Baijal“The state exchequer earned significant revenue from property registrations due to an increase in the average value of registered properties in February 2023,” said Knight Frank India chairman and managing director.
He said that the average value of registered properties in February was recorded at Rs 1.9 crore, which is 65 per cent higher than the average value of registered properties in February 2022 at Rs 1.18 crore.
“Besides, the increase in price, the contribution of metro cess has also added to the revenue. This has resulted in a higher revenue collection of Rs 39 crore per day on an average for the month of February,” Baijal said.
This is indicative of a boom in the mid and high-end segments, which continue to show strength despite headwinds, he added.
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