Freebies, stamp duty cut help home sales in Mumbai surge past other markets

Pent-up demand, increase in affordable and mid-segment housing over the past few years support upsurge

Mumbai's residential real estate market seems to be outperforming other property zones in the country.

Freebies doled out by developers, recent cut in stamp duty and pent-up demand have done the trick, said consultants and analysts said.

Mumbai Metropolitan Region (MMR) recorded housing sales of nearly 9,200 units in Q3 of calender 2020, against 3,620 units in the preceding quarter, registering a 1.5 times growth which is the highest growth seen any city except Chennai. Chennai albeit had a low base in Q2, 2020, a recent report by Anarock Property Consultants said.

“This was largely because we saw end-users come