Mumbai Property Registrations Set to Rise 7% in August

Property registrations in Mumbai are expected to increase by 7% in August, driven by strong demand and a positive economic outlook.

Mumbai PropertyReal EstateKnight Frank IndiaProperty RegistrationsMaharashtra GovernmentReal Estate MumbaiAug 31, 2024

Mumbai Property Registrations Set to Rise 7% in August
Real Estate Mumbai:Property registrations in Mumbai's municipal region are expected to rise by 7% in August, reaching 11,650 units, driven by strong demand and a positive economic outlook.

According to Knight Frank India, a real estate consultant, Mumbai city (area under BMC jurisdiction) has recorded 11,631 property registrations so far in the month of August. The data is till 8.15 pm on Saturday, August 31, and the number is likely to increase slightly to around 11,650 units.

In August 2023, the Mumbai city saw registration of 10,902 properties. The data pertains to registration of properties transacted in both primary (first sale) and secondary (resale) markets. The state government is expected to earn more than Rs 1,050 crore from the registration of these properties.

\

Frequently Asked Questions

What is the expected rise in property registrations in Mumbai in August?

7% annually, reaching 11,650 units

What is the source of the data on property registrations in Mumbai?

Maharashtra government data, as reported by Knight Frank India

What is the significance of the rise in property registrations in Mumbai?

It indicates a strong demand for housing and commercial spaces, and is a positive sign for the real estate sector in the state.

What initiatives has the Maharashtra government taken to boost the real estate sector?

Implementation of the Real Estate (Regulation and Development) Act, 2016, and infrastructure development, including construction of new roads, highways, and public transportation systems.

Who is the Chairman & Managing Director of Knight Frank India?

Shishir Baijal

Related News Articles

Trepp Recognizes Exceptional Talent in Commercial Real Estate with Spring 2024 Future Leader Awards
Real Estate

Trepp Recognizes Exceptional Talent in Commercial Real Estate with Spring 2024 Future Leader Awards

Trepp, a leading provider of data, insights, and technology solutions, has announced the winners of its Spring 2024 Future CRE Leaders Awards program for undergraduate and graduate students.

June 17, 2024
Read Article
Hogan Lovells Facilitates Invesco Real Estate's Sale of Iconic Time Building in Milan
real estate news

Hogan Lovells Facilitates Invesco Real Estate's Sale of Iconic Time Building in Milan

Get the latest breaking news delivered straight to your inbox. Don't miss out on new posts, Subscribe to newsletter Get our latest posts and...

September 28, 2024
Read Article
Buying a Home in Top Indian Cities: Budget Over Rs 1.2 Crore
Real Estate Mumbai

Buying a Home in Top Indian Cities: Budget Over Rs 1.2 Crore

Explore the current real estate market in major Indian cities like Mumbai, Bengaluru, and Pune, where the cost of buying a home can often exceed Rs 1.2 crore. Discover insights from leading real estate firms on the factors influencing prices and the oppor

November 20, 2024
Read Article
Birla Estates Acquires Prime Land Parcel for Rs 104.3 Crore in Boisar, Maharashtra
Real Estate

Birla Estates Acquires Prime Land Parcel for Rs 104.3 Crore in Boisar, Maharashtra

Birla Estates, through its subsidiary Ekamaya Properties, has made a strategic land acquisition in Boisar, Maharashtra, for Rs 104.3 crore. This move is part of the company's expansion plans in the region.

December 17, 2024
Read Article
Strata Secures Sebi Approval for SM-REIT Launch in India
real estate news

Strata Secures Sebi Approval for SM-REIT Launch in India

Strata, a tech-enabled real estate investment platform, has received regulatory approval to launch its Small and Medium Real Estate Investment Trust (SM-REIT). This move will enable both retail and institutional investors to invest in high-quality commerc

January 9, 2025
Read Article
Kolte Patil Developers Sees 4% Gain After Pune Residential Project Pact Worth ₹4000 Crore
Real Estate Pune

Kolte Patil Developers Sees 4% Gain After Pune Residential Project Pact Worth ₹4000 Crore

Real estate player Kolte-Patil Developers Ltd announced the signing of a joint development agreement for a residential project in Pune, valued at ₹4000 crore. The news has boosted the company's shares, leading to a 4% gain in the market.

February 7, 2025
Read Article