Mumbai Property Registrations Spike To 1.01 Lakh In 2023
Property registrations in Mumbai's real estate market have spiked to 1.01 lakh since January 2023, marking an anticipated increase of 5 percent, according to Maharashtra government data. Last year, in 2022, the overall registrations recorded were 1.22 lakh. This year, within the first ten months, registrations have already crossed the 1 lakh mark. In recent years, there has been a consistent upward trend in property registrations for properties valued at Rs 1 crore or more. This proportion has risen from 49 percent in January to September 2020 to approximately 57 percent in January to September 2023, according to a Knight Frank Report for September 2023. The consultancy firm maintains that against the backdrop of steady economic growth, home buyers expect interest rates to remain stable. "Such stability has the potential to further strengthen the housing market, creating an environment ripe with opportunities and optimism," said Shishir Baijal, Chairman and Managing Director of Knight Frank India in September 2023.
Tags : Property registrations real estate Maharashtra government data registrations Shishir Baijal