The state government is expected to earn over Rs 1,050 crore from the registration of these properties. | Photo: Pexels
Property registrations in the Mumbai municipal region are likely to rise 7 per cent year-on-year in August to around 11,650 units due to strong demand, according to Knight Frank India.
Citing data from the Maharashtra government, real estate consultant Knight Frank India said Mumbai city (an area under BMC jurisdiction) has recorded 11,631 property registrations so far in August.
The data is up to 8.15pm on Saturday 31 August and the number is likely to rise slightly to around 11,650 units.
As of August 2023, 10,902 properties were registered in the city of Mumbai.
The data correspond to the registry of properties traded both in the primary market (first sale) and in the secondary market (resale).
The state government is expected to earn over Rs 1,050 crore from the registration of these properties.
“Sustained buyer confidence has translated into consistent monthly sales, exceeding 10,000 units during the first eight months of the year,” the consultant said.
Shishir Baijal, Chairman and Managing Director, Knight Frank India, said Mumbai’s residential market has maintained strong momentum in 2024, with monthly sales showing consistent year-on-year growth.
“Strong economic prospects and stable interest rates have maintained positive homebuyer sentiment, driving steady sales,” he said.
(Only the headline and image of this report may have been reworked by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First published: August 31, 2024 | 22:34 IS
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