Mumbai's Real Estate Market Sees 8% YoY Rise in Property Registrations for August 2024
Mumbai's real estate market demonstrated resilience in August 2024, with property registrations marking an 8% year-on-year increase. The total number of registrations climbed to 11,735, up from 10,902 in August 2023.
Mumbai Real EstateProperty RegistrationsStamp Duty CollectionsNaredco MaharashtraTridhaatu RealtyPrescon GroupThe Mentors Real Estate Advisory Pvt LtdReal Estate MaharashtraSep 11, 2024
Despite a seasonal dip due to the monsoon, which led to a 5% decrease in registrations from July 2024's 12,373 registrations, the market's overall performance remained strong.
In a significant boost to the state's revenue, stamp duty collections from property registrations in Mumbai surged by over 32%, reaching ₹1,072 crore in August 2024 compared to ₹810 crore during the same period last year. In July 2024, the stamp duty collections stood at ₹1,064 crore, according to the data.
Of the total property registrations in Mumbai in August 2024, residential units constitute roughly around 80%, according to Knight Frank India.
Frequently Asked Questions
What was the year-on-year increase in property registrations in Mumbai for August 2024?
8%
What was the total number of property registrations in Mumbai for August 2024?
11,735
What was the percentage increase in stamp duty collections from property registrations in Mumbai for August 2024 compared to the same period last year?
32%
What percentage of total property registrations in Mumbai in August 2024 were residential units?
80%
Which real estate industry body commented on the sustained growth in property registrations in Mumbai?
NAREDCO Maharashtra
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