Mumbai Property Registrations See 1% Increase to 12,532 Units in July: Knight Frank
Real estate consultant Knight Frank India reports a 1% rise in property registrations in Mumbai, with 12,532 units registered in July 2024. This includes both primary and secondary market transactions.
MumbaiReal EstateProperty RegistrationKnight FrankBmcReal Estate MumbaiJul 31, 2025
A total of 12,373 units were registered in July 2024, marking a slight uptick from the previous year. Knight Frank India, in a statement on Thursday, reported that Mumbai city, under the jurisdiction of the Brihanmumbai Municipal Corporation (BMC), recorded 12,532 property registrations by 8:30 PM on July 31.
The data encompasses both primary and secondary market transactions, reflecting a steady recovery in the real estate sector. This increase is significant as it indicates a growing confidence among buyers and investors in the Mumbai property market.
Mumbai, known for its bustling real estate market, has been witnessing a gradual recovery over the past few months. The city's property market is influenced by various factors, including economic conditions, government policies, and infrastructure development. The rise in property registrations is a positive sign, suggesting that the market is on the path to recovery and growth.
Knight Frank India, a leading real estate consultant, has been closely monitoring the property market in Mumbai and other major cities. Their insights provide valuable information for stakeholders, including developers, investors, and homebuyers. The company's detailed reports and analyses help in making informed decisions and strategic planning in the real estate sector.
The increase in property registrations is not only a testament to the resilience of the Mumbai real estate market but also a reflection of the ongoing efforts to improve the overall business environment. The government's initiatives, such as the introduction of the Real Estate (Regulation and Development) Act (RERA) and the Goods and Services Tax (GST), have played a crucial role in bringing transparency and stability to the market.
Despite the challenges posed by the global economic slowdown and the ongoing pandemic, the Mumbai property market has shown remarkable resilience. The rise in registrations is expected to continue in the coming months, driven by improved economic conditions and increased consumer confidence.
In conclusion, the 1% increase in property registrations in Mumbai in July 2024 is a positive indicator of the market's health and the confidence of buyers and investors. As the city continues to develop and attract more investment, the real estate sector is poised for further growth and stability.
Frequently Asked Questions
What is the significance of the 1% increase in property registrations in Mumbai?
The 1% increase in property registrations in Mumbai is significant as it indicates a growing confidence among buyers and investors in the real estate market, suggesting a path towards recovery and growth.
What factors are influencing the Mumbai property market?
The Mumbai property market is influenced by various factors, including economic conditions, government policies, and infrastructure development. Recent initiatives like RERA and GST have also contributed to market stability.
What is the role of Knight Frank India in the real estate sector?
Knight Frank India is a leading real estate consultant that provides valuable insights and detailed reports on the property market, helping stakeholders make informed decisions and strategic plans.
How has the global economic slowdown and the pandemic affected the Mumbai property market?
Despite the challenges posed by the global economic slowdown and the pandemic, the Mumbai property market has shown remarkable resilience, with a steady recovery and a rise in property registrations.
What is the Real Estate (Regulation and Development) Act (RERA)?
The Real Estate (Regulation and Development) Act (RERA) is a regulatory framework introduced to bring transparency and accountability to the real estate sector, protecting the interests of homebuyers and investors.
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