MUMBAI: Registrations of properties in the Mumbai Municipal Corporation increased 22 per cent to 12,000 units during May due to strong housing demand, according to real estate consultant Knight Frank.
Mumbai city (which is under BMC jurisdiction) recorded nearly 12,000 property registrations last month, compared to 9,823 units in May last year, Knight Frank India said, citing Maharashtra government data.
Rs 1,034 crore came to the state treasury in May 2024, which is 24 percent more than the same month last year.
Of the total registered properties in May 2024, 80 per cent were residential units.
“The consistent year-on-year increase in property sales and registrations provides continuity to the growth story that has been driven by state government incentives and since then, despite the increase in average prices across the city, property sales And “Registration is intact.” "Speed," said Shishi Baijal, chairman and managing director of Knight Frank India.
He said this reflects market appetite as well as buyers' confidence in the country's economic fundamentals.
"This positive trend is expected to continue with strong economic growth and a favorable interest rate environment, creating an encouraging environment for potential buyers," Baijal said.
In the first five months of this year, the total number of registered properties stood at 60,820, up 17 per cent from 52,173 units in January-May 2023.
Mumbai city (which is under BMC jurisdiction) recorded nearly 12,000 property registrations last month, compared to 9,823 units in May last year, Knight Frank India said, citing Maharashtra government data.
Rs 1,034 crore came to the state treasury in May 2024, which is 24 percent more than the same month last year.
Of the total registered properties in May 2024, 80 per cent were residential units.
“The consistent year-on-year increase in property sales and registrations provides continuity to the growth story that has been driven by state government incentives and since then, despite the increase in average prices across the city, property sales And “Registration is intact.” "Speed," said Shishi Baijal, chairman and managing director of Knight Frank India.
He said this reflects market appetite as well as buyers' confidence in the country's economic fundamentals.
"This positive trend is expected to continue with strong economic growth and a favorable interest rate environment, creating an encouraging environment for potential buyers," Baijal said.
In the first five months of this year, the total number of registered properties stood at 60,820, up 17 per cent from 52,173 units in January-May 2023.
