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New Delhi: Registration of Properties Mumbai According to the data, the municipal area increased marginally to more than 10,300 units in June. knight frank india, About 85 per cent of the total registered properties were residential units.
The registration of properties in the Mumbai region stood at 9,919 units in June last year.
As per the data, the registration of properties in the area crossed the 10,300 mark till 8.30 pm on Friday.
During the first half of 2023 (H1), the city registered registrations of over 62,000 units, making it the second best for property registrations for the same H1 period in the last decade.
In the first six months of last year, 66,761 units were registered.
The increase in property registration has resulted in increased revenue collection for the state, making the Maharashtra government the primary beneficiary.
The increase in revenue can be attributed to several factors, including higher value of registered properties, implementation of metro cess and continued strong demand from consumers.
Knight Frank CMD Shishir Baijal Said that the residential market in Mumbai continues to be on a growth trajectory, with the latest trends showing sustained demand.
“Despite headwinds, consumers remain enthusiastic about home ownership. This has led to an increase in the scale of registrations in the market to about 85 per cent from the pre-COVID period, where the market hovered around 5,700 units per month on an average. 10,000 units,” he said.
Besides this, Baijal said that there has been an increase in the Rs 1 crore and above category, which is partly due to the general increase in average prices along with the attraction towards bigger homes.
“Looking ahead, we expect demand to remain strong, supported by factors influencing purchase decisions,” he added.
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