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Business EconomyPosted at: Dec 20 2021 10:49PM


Mumbai city property sale registrations cross 100,000 mark for 2021

Mumbai, Dec 20 (UNI) Property sale registration in Mumbai city has crossed the 100,000 mark for the first time in a decade.
The earlier high during the last ten years was 80,746 units in 2018, according to consultancy firm Knight Frank India.
In November 2021, the market recorded registrations of 7,582 units or 18 percent YoY decline when compared to same month last year when the stamp duty rate was at its lowest level of 2 percent.
Compared to the previous month, the registrations were lower by 12 percent MoM.
In October 2021, the city had recorded a decadal best October month property sale registrations.
At 8,576 units, the registrations increased by 8 percent YoY compared to October 2020, when the stamp duty rate was at the lowest level of 2 percent.
With the momentum in November 2021, sales registrations have crossed the 100,000 registrations benchmark for 2021.
Registrations during January – November 2021 period was 122 percent higher compared to same period last year.
Government earned a revenue of Rs 5,351 crore between January 2021 and November 2021
"The consumer sentiment in Mumbai housing market remains strong. The growth rate has moderated when compared to the year ago period when market was buoyant on account of the lowest applicable stamp duty rate window," Shishir Baijal, Chairman and Managing Director, Knight Frank India, said.
"The demand enablers in the form of low house prices, low home loan interest rate and new project launches continue to entice homebuyers. The threat of new COVID-19 variants and response from healthcare system will be crucial in determination of market activity level in near future," he added.
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Tags: #Mumbai city property sale registrations cross 100#000 mark for 2021
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