Mumbai residential market starts 2024 with record-breaking momentum; posts highest January registrations in 12 years: Knight Frank India
by Shrutee K · Over 10,900 units registered in Jan 2024, up 21% YoY. · Stamp duty collections from property registrations remained buoyant, increased by 8% YoY to INR 746 cr · 58% of registered properties in Jan 2024 were worth INR 1 cr and above Mumbai, January 31, 2024: Mumbai city (area under BMC jurisdiction) in January 2024 is projected to witness registration of 10,901 properties, contributing to a revenue of INR 746 Crores (Cr) for the state government. This highlights a notable 21% Year-on-Year (YoY) increase in registration numbers and a 8% YoY growth in revenue compared to the previous year. Homebuyer confidence in the Mumbai market persists and the outlook remains positive. This positive outlook has led to a substantial upswing in property registrations in Mumbai. Of the overall registered properties, residential units constitute 80%, the remaining 20% constitute non-residential assets. Table: Mumbai property sale registration and