By laksh5382 
in property registration Mumbai It crossed 10,000 units in November as demand for housing remained strong and stamp duty revenue crossed Rs 900 crore and more high-value homes were being transacted.
State government data showed that 10,213 units were registered in November, up 4.9 per cent from last year, while revenue was nearly 30 per cent higher than last year.
However sequentially both the number of units registered and the revenue declined. November was a slow month as most of the major festivals like Diwali and Navratri filled October, when most people usually make large value purchases considering it auspicious.
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“The subdued activity in November following October’s strong performance may also reflect market disruptions due to state elections, which have further impacted activity,” Knight Frank India said on the data.
So far, 1.29 lakh units have been sold in Mumbai in the 11 months of 2024, while 1.15 lakh units were sold in the same period last year.
“Mumbai real estate has been on a growth trajectory for the last 11 months and this year Mumbai is likely to cross the overall home sales mark of 1.5 lakh,” said Amit Jain, chairman and managing director of Arcade Developers.
“Overall, we are hopeful that December will be better as families move into their new homes in the new year. We are also expecting NRI investment in Mumbai in December.
KFI’s analysis of property registration data showed that high-value properties with ticket sizes of Rs 2 crore and above accounted for almost a quarter of transactions, compared to 17 per cent earlier. The share of properties priced below Rs 50 lakh fell to one-fifth from 28 per cent a year ago. The demand for big size houses was also high.
Dhawal Ajmera, Director, Ajmera, said, “Mumbai’s housing market continues to maintain sustained and steady momentum, driven by multiple factors including stable MPC rates, strong purchasing power and willingness to upgrade to bigger and better homes, especially in the township format. ” Realty and Infra India.