You are here: Home » PTI Stories » National » News
Business Standard

Registration of homes in Mumbai city up 8% to 8,576 units in Oct

As compared to pre-pandemic October 2019, registrations grew by 48 per cent in October 2021

Mumbai | Real Estate  | housing

Press Trust of India  |  New Delhi 

Mumbai real estate, Mumbai housing
Photo: Bloomberg

Registration of properties in municipal region rose 8 per cent year-on-year (Y-O-Y) to 8,576 units in October on higher demand during the ongoing festive season and low interest rates on home loans, according to Knight Frank India.

The registration of properties stood at 7,929 units during October 2020 and 7,929 units in September this year.

The registration data is for properties bought in both primary and secondary (re-sale) market.

"October 2021 recorded total property sale registrations of 8,576 units. Registrations in October were higher by 8 per cent y-o-y over same month last year and 10 per cent higher than September 2021," property consultant Knight Frank said.

As compared to pre-pandemic October 2019, registrations grew by 48 per cent in October 2021.

Commenting on the registration data, Gulam Zia, Senior Executive Director, Knight Frank India said: "The healthy growth in the residential property registrations volume is a sign of recovering markets. A consistent increase captured in last few months demonstrates the strength of demand in the market as this continued surge in demand is despite the roll back of government's stamp duty demand stimulant."

The continuous growth has led to a new lease of life to the residential markets and developers too are preparing for a stellar festive period this year, he added.

In Mumbai's primary market, Macrotech Developers (Lodha group), Godrej Properties, Oberoi Realty, Hiranandani group, Kalpataru Ltd, Tata Housing, Shapoorji Pallonji, Piramal Realty, Mahindra Lifespace Developers, Rustomjee group and K Raheja group are the major players.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, November 01 2021. 16:01 IST