Mumbai Property Market Sees 13.2% Growth in Registrations During Navratri
Mumbai's real estate market recorded a significant 13.2% increase in property registrations during the nine-day Navratri festival, reflecting a surge in buyer interest and market confidence.
Mumbai Property MarketNavratriProperty RegistrationsReal EstateFestive SeasonReal Estate MumbaiOct 21, 2024
From October 3 to 11, the city saw 5,199 property registrations, marking a 13.2% year-on-year increase compared to Navratri 2023. According to data from the Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra, this festive period also generated INR 502 crore in revenue over just 8 working days, up from around INR 430 crore during the same period last year.
Frequently Asked Questions
What is the percentage growth in property registrations in Mumbai during Navratri 2023?
Mumbai recorded a 13.2% growth in property registrations during Navratri 2023 compared to the previous year.
How much revenue did the state exchequer generate during Navratri 2023 from property registrations in Mumbai?
The state exchequer generated INR 502 crore in revenue from property registrations during Navratri 2023 in Mumbai.
Which factors are driving the growth in property registrations during the festive season in Mumbai?
The growth is driven by positive sentiment, flexible payment plans, festive offers, pent-up demand, and buyers' trust in the market's future potential.
How has the daily average of property registrations changed during Navratri 2023 compared to the previous year?
The daily average of property registrations increased to 578 units during Navratri 2023, up from 510 units in the previous year.
What role do infrastructure developments and stable policies play in the growth of Mumbai's property market?
Infrastructure developments and stable policies contribute to making Mumbai's property landscape attractive, driving both end-user and investor interest and fostering sustained growth.
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