Mumbai Property Registration At 10-Year High

New Delhi: The registrations of property in Mumbai  witnessed a 10-year high in September led by record-low home loan interest rates and incentives offered by developers.

As per the data available from the government's Department of Registration and Stamps, September 2021 saw 7,799 properties being registered in Mumbai, up 15 per cent from the previous month of August which saw sales of 6784 units.
Property registrations are 39 per cent higher from a year earlier. September 2020 witnessed sales of 5,597 units when the stamp duty cut was announced by the Maharashtra government during the month.

The September registrations fetched the state government more than Rs 525 crore in stamp duty collections, according to data available from the government departments.

Real estate developers anticipate the pace of both sales and property launches to improve further in the upcoming festive season.

"Inspite of 10 days of Shraadh in September 2021, Mumbai has witnessed high sales in the month and the sales are only expected to further pick up pace in the festive season," said a Mumbai-based property developer.