Of the overall registered properties, residential units constitute 80%, the remaining 20% constitute non-residential assets, said said Knight Frank India
Mumbai s property market sets new records in January with the highest-ever property registrations and revenue collected through stamp duty charges. The city recorded over 10,872 real estate deals, a 21% increase from last year. Total revenue from stamp duty rose 8.4% to over Rs 750 crores. Despite higher mortgage rates and property prices, Mumbai s property market remains strong due to stable demand and positive sentiment. Homebuyers have confidence in the market, leading to increased property registrations.
Mumbai real estate market update: The revenue from property registrations in 2023 crossed the Rs 10,000 crore-mark, and is 22 percent higher as compared to the preceding year.
Mumbai real estate: It is expected that Mumbai’s total revenue collections from property sales will grow by 22 to 25 percent in 2023. Sales in 2024 are expected to remain on a similar trajectory, albeit the growth may be moderated.