Property registrations in Mumbai’s municipal region increased by 5% to over 10,200 units in November, fueled by robust housing demand, according to a report by Knight Frank.
MumbaiProperty RegistrationsKnight FrankReal Estate MarketHousing DemandReal Estate MumbaiNov 30, 2024
Property registrations in Mumbai's municipal region increased by 5% in November.
The factors include robust housing demand, affordable housing schemes, improved infrastructure, competitive pricing, and economic stability.
The Pradhan Mantri Awas Yojana (PMAY) is a government initiative that provides financial assistance to first-time homebuyers, making it easier for them to afford properties.
The increase is likely to encourage developers to invest more in the city, leading to the development of new projects and the creation of more jobs. It will also help stabilize property prices, making the market more balanced and sustainable.
The market faces challenges such as regulatory hurdles, delays in project approvals, and the need for more affordable housing options.
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