Mumbai Property Registrations Surge 32% in September

Mumbai, Sep 30 (PTI) Registration of properties in the Mumbai municipal region rose by 32 per cent in September to 12,070 units on strong festive demand, according to Knight Frank India.

Citing Maharashtra government data, real estate consultant Knight Frank India said that Mumbai city (area under BMC jurisdiction) recorded 12,070 property registrations in September against 9,111 units in the same month last year.

The data pertains to registration of properties transacted in both primary (first sale) and secondary (resale) markets.

"Mumbai city (area under BMC jurisdiction) recorded 12,070 property registrations in September, marking a 32 per cent YoY (year-on-year) increase," the consultant said.

Stamp duty collections touched Rs 1,292 crore, up 47 per cent YoY.

The market continues to be driven by residential demand, with 80 per cent of all registrations in the month attributed to residential properties, the statement said.