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Mumbai Property Registrations Hit 14-Year September High Amid Festive Demand
Mumbai sold and registered more homes and properties in September than it has in that month for over 14 years.
There were 12,622 registrations.
This was 5% more than in September last year.
The Ganesh Chaturthi festival helped increase activity.
During the festival period, 5,379 properties were registered.
However, the city collected less total stamp duty than it did a year earlier.
Knight Frank India said buyers are still interested but are choosing carefully.
Buyers appear especially interested in projects with good connections and infrastructure.
Mumbai recorded 12,622 property registrations in September, up 5% year-on-year and the highest September total in more than 14 years.
September registrations were slightly above August’s 12,580 units and exceeded the 12,070 recorded in September last year.
Stamp duty collections fell 5% year-on-year to Rs 1,227 crore, despite continued housing demand.
During the September 14–25 Ganesh Chaturthi period, 5,379 properties were registered, up 22% year-on-year and the highest festive-period total in four years.
Festive-period stamp duty collections rose 32% year-on-year to Rs 640 crore, accounting for more than half of September’s total revenue.
- Who
- Mumbai property buyers and sellers, with data reported by Knight Frank India and comments from Shishir Baijal.
- What
- Mumbai recorded 12,622 property registrations, the highest September figure in more than 14 years.
- Where
- Mumbai.
- When
- September; the Ganesh Chaturthi festival period covered September 14 to 25.
- Why
- Festive demand, particularly during Ganesh Chaturthi, boosted market activity, while buyers continued to show demand for well-connected projects with quality infrastructure.
Key facts
- September registrations
- 12,622 properties
- Year-on-year registration growth
- 5% increase
- September stamp duty collections
- Rs 1,227 crore, down 5% year-on-year
- August registrations
- 12,580 properties
- Ganesh Chaturthi-period registrations
- 5,379 properties, up 22% year-on-year
- Festive-period stamp duty
- Rs 640 crore, up 32% year-on-year
- Festival period
- September 14–25
Sources
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