Mumbai property registrations to see 15-20% growth in FY14

However, fresh sales transactions to remain trepid as developers continue to hold prices

Despite flat growth in property registrations in Mumbai in June, the rest of the current financial year is expected to see a growth of 15 to 20% on a yearly basis, said a report.

April and May 2013 saw a growth of 24% and 15% in property registrations respectively.

"Our view is that registration numbers may continue to see 15 to 20% year-on-year improvement in FY14 as apartments sold in FY 2011-13 (new launches and re-launches) under the amended DCR continue to see registrations," said Adidev Chattopadhyay of HDFC securities in a August 2 report.

However, Chattopadhyay believes fresh sales transactions to remain trepid as developers continue to hold prices in the race of deterioration in volumes.

"We maintain our view that the developers not officially trimming quoted prices across projects; investors will continue to account for the bulk of sales across new launches." he said.

Normally, registration numbers come with a lag effect of 3-4 months as buyers take that much time after buying the properties.