Mumbai Sees Spike in Property Registrations During Diwali Month
Real estate consultant Anarock reports a significant increase in property registrations in Mumbai during October, driven by the auspicious Dussehra and Diwali festivals.
MumbaiProperty RegistrationDiwaliDussehraReal EstateReal EstateOct 30, 2024
Anarock, a leading real estate consultancy firm, has been closely monitoring the property market trends in Mumbai. The company's chairman, Anuj Puri, highlighted the significance of this spike.
Frequently Asked Questions
What is the significance of the Diwali and Dussehra festivals for property buyers in Mumbai?
Both Diwali and Dussehra are considered auspicious festivals for property buying. Many buyers time their purchases to coincide with these festivals to bring good fortune and prosperity.
How many properties were registered in Mumbai during October 2023 compared to November 2023?
12,513 properties were registered in Mumbai during October 2023 (till 30th), compared to 9,736 in November 2023, marking a 29% increase.
Why is the third quarter of 2024 considered tepid for housing sales in Mumbai?
The third quarter of 2024 saw tepid housing sales across the Mumbai Metropolitan Region (MMR), including Mumbai, which makes the surge in sales during the festive month even more notable.
What is Anarock's role in the real estate market in Mumbai?
Anarock is a leading real estate consultancy firm that closely monitors market trends and provides insights into the housing sector in Mumbai and other regions.
What does the future look like for the real estate market in Mumbai after the festive season?
The future looks promising for the real estate market in Mumbai, with property developers and real estate agents optimistic about sustained growth following the positive momentum during the festive season.
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