With the festive season kicking in from Navratri, revenue from Mumbai property registrations rose 11 percent to Rs 809 crore in October, according to official data.
The first seven months of the year saw the highest property registration revenue and second highest property registrations, according to Maharashtra government data.
The revenue collected by the government in July 2023 amounted to Rs 808 crore, a 6 percent decrease from June 2023 and a 3 percent decline from July 2022, the data showed
While overall registrations dipped in May, the strength in daily sales with over 308 units registered per day and rising revenue clearly reaffirmed the robustness of Mumbai property market.
Registrations remained flat in March, matching levels recorded the previous month. However, there was a 33 percent YoY decrease owing to the stamp duty increase in April 2022, which sparked a scramble for registrations in March 2022.