Mumbai's Real Estate Market on the Rise: A Surge in Property Registrations
The Mumbai real estate market has seen a growth in demand with property registrations rising by 4% to 88,639 units from January to July, according to Knight Frank. Government revenue from these registrations surged by 13% year-on-year to Rs 7,854 crores. July alone witnessed a 2% increase in registrations.
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Mumbai's real estate market is experiencing a period of robust demand, with a 4% increase in property registrations, totaling 88,639 units, in the first seven months of the year, according to a report by Knight Frank.
During the same period last year, 84,866 units were registered. The data encompasses both primary and secondary property markets, contributing to a 13% rise in government revenue from registrations, reaching Rs 7,854 crores.
Knight Frank highlighted Mumbai's strongest performance since 2013 for January through July. In July, property registrations rose 2% year-on-year to 12,579 units, reflecting continued buyer confidence. Experts suggest that demand for real estate in major cities like Mumbai will keep prices resilient and trending upward.
(With inputs from agencies.)
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