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.
India real estate: Several high net-worth individuals bought and sold luxury homes in 2023, ranging from as low as Rs 20 crore to over Rs 1,200 crore in three major real estate markets of Mumbai, Delhi-NCR and Bengaluru.
Yearender 2023: From launching the UDGAM portal for unclaimed deposits to instructing banks on timely return of property documents to borrowers, the central bank initiatives made life easy for bank customers. RBI’s stance on interest rates will be keenly watched in 2024, with some market watchers expecting reduction in rates from the second half of next year.
Yearender 2023: The Mumbai region witnessed 40 percent annual increase in sales, while Pune recorded a 52 percent spike over 2022. Bengaluru grew 29 percent, while Hyderabad grew 30 percent. At 3 percent, NCR saw the least growth.
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.