Mumbai Property Registrations See 5% Rise in November 2024
Real estate consultant Knight Frank India reports a 5% increase in property registrations in Mumbai, with 10,216 units recorded in November 2024.
Property RegistrationsMumbai Real EstateKnight Frank IndiaBrihanmumbai Municipal CorporationMarket ConsolidationReal Estate MumbaiDec 01, 2024
The data, as of 8 pm on Saturday, is expected to see a slight increase. However, the number of registrations in November saw a decline compared to the 12,960 units registered in October 2024, a surge driven by the festive season.
Shishir Baijal, CMD of Knight Frank India, commented on the sequential dip, stating that it reflects a natural phase of market consolidation following the festive-driven surge in October. 'Significantly, the increasing demand for premium properties and larger living spaces underscores a decisive shift towards quality, value, and long-term investment in Mumbai's ever-dynamic real estate landscape,' he added.
The rise in property registrations in Mumbai indicates a growing confidence in the city's real estate market. The demand for premium properties and larger living spaces suggests that buyers are increasingly valuing quality and long-term investment potential. This trend is particularly notable in a city known for its high property values and competitive real estate market.
Knight Frank India, a leading real estate consultancy, provides comprehensive insights into the real estate market trends and dynamics. Their reports are widely followed by industry professionals, investors, and policymakers to make informed decisions.
The Mumbai real estate market continues to evolve, driven by factors such as economic growth, infrastructure development, and changing consumer preferences. The recent increase in property registrations is a positive sign for the industry and reflects the ongoing resilience and adaptability of the market.
Frequently Asked Questions
What is the percentage increase in property registrations in Mumbai in November 2024?
Property registrations in Mumbai increased by 5% in November 2024 compared to the same period in 2023.
How many property registrations were recorded in Mumbai in November 2024?
Mumbai recorded 10,216 property registrations in November 2024.
What is the reason for the decline in property registrations in November compared to October 2024?
The decline in property registrations in November 2024 compared to October 2024 is attributed to a natural phase of market consolidation following the festive-driven surge in October.
Who is Shishir Baijal and what is his role at Knight Frank India?
Shishir Baijal is the CMD (Chairman and Managing Director) of Knight Frank India, a leading real estate consultancy firm.
What does the increase in demand for premium properties and larger living spaces indicate in the Mumbai real estate market?
The increase in demand for premium properties and larger living spaces in Mumbai indicates a shift towards quality, value, and long-term investment in the city's real estate market.
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