According to data from the Maharashtra government, real estate consultant Knight Frank has reported a significant rise in property registrations in Mumbai, reaching 12,960 units in October 2024, marking a 22% increase from the previous year.
Mumbai PropertyReal EstateProperty RegistrationsMaharashtra GovernmentKnight FrankReal Estate NewsNov 01, 2024
Property registrations in Mumbai increased by 22% in October 2024 compared to the same period last year.
Knight Frank, a leading global real estate consultancy, provided the data on property registrations in Mumbai.
The key factors driving the growth in property registrations in Mumbai include favorable interest rates, improved infrastructure, and government initiatives such as the Pradhan Mantri Awas Yojana (PMAY).
The PMAY has supported affordable housing projects, making it easier for first-time buyers to enter the market and contributing to the overall growth of the real estate sector in Mumbai.
The real estate market in Mumbai still faces challenges such as property price speculation and the need for more transparent regulatory frameworks. The government and regulatory bodies are working to address these issues.
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Homebuyers’ forum requests consumer ministry guidelines for the real estate sector, highlighting the ineffectiveness of RERA and 50,000 pending complaints.
A video of BJP MP Etela Rajender physically assaulting a real estate broker in Pocharam, Medchal district, Telangana, has gone viral, sparking widespread outrage.
The Supreme Court has set a significant precedent by ruling that consumer fora can intervene in one-sided agreements between builders and buyers. This decision aims to protect the rights of homebuyers and ensure fair practices in the real estate sector.
Aeon & Trisl Group, renowned players in the real estate sector, have achieved a significant milestone by securing the top spot at the prestigious Emaar Awards. This recognition highlights their commitment to quality and innovation in the industry.