Second Covid-19 wave: Home registrations in Mumbai decline 47% in May

71% of the registered properties were from sales concluded in the December 2020-April 2021 period

Due to the impact of the second wave of Covid-19 and the Maharashtra government's decision to discontinue the stamp duty waiver on property registrations, there has been a sharp decline in property sales in May in Mumbai.

According to a Knight Frank report, Mumbai recorded property registrations of 5,360 units in May, registering a significant decline of 47 per cent Month-on-Month compared to April and down 15 per cent compared to 6,270 units registered in May last year. However, the registrations in May this year were up 25 times higher compared to last year as the lockdown restrictions are less