Property registration in the Mumbai municipal area increased 4 per cent year-on-year to an all-time high of 1,26,907 units in 2023 on the back of better demand, according to Knight Frank.
The registration number hit a record in 2023, beating the previous high of 1,22,035 units in the previous year, real estate consultant Knight Frank India data showed.
The state government collected a revenue of Rs 10,869 crore as stamp duty in 2023, up 22 per cent from the previous year.
In December, 12,255 units were registered in Mumbai city (an area under BMC jurisdiction), up 31 per cent from 9,367 units in the year-ago period.
Knight Frank has compiled the data on the registration of properties from the Department of Registrations and Stamps, Maharashtra government. The data includes sales in primary (fresh) and secondary (re-sale) markets.
Of the overall registered properties, residential units constitute 80 per cent. Property registration in the Mumbai municipal area increased 4 percent year-on-year to an all-time high of 1,26,907 units in 2023 on the back of better demand, according to Knight Frank. The registration number hit a record in 2023, beating the previous high of 1,22,035 units in the previous year, real estate consultant Knight Frank India data showed.
The state government collected a revenue of Rs 10,869 crore as stamp duty in 2023, up 22 percent from the previous year. In December, 12,255 units were registered in Mumbai city (an area under BMC jurisdiction), up 31 percent from 9,367 units in the year-ago period. (
Knight Frank has compiled the data on the registration of properties from the Department of Registrations and Stamps, Maharashtra government. The data includes sales in primary (fresh) and secondary (re-sale) markets. Of the overall registered properties, residential units constitute 80 percent. Knight Frank said the demand has been driven by rising income levels, better affordability, and a positive homeownership outlook.