According to real estate advisor Knight Frank India, the number of properties registered in the Mumbai municipal area this month increased by 78% over the same period last year, reaching 9,523 units.
In Mumbai city (BMC region), 5,360 properties were registered in May 2021.
Properties purchased in both the primary and secondary (resale) markets are included in the registration data.
According to real estate advisor Knight Frank India, the number of properties registered in the Mumbai municipal area increased by 78% year over year to 9,523 units this month.
In May 2021, 5,360 properties were registered in Mumbai City (BMC region).
The registration information pertains to homes purchased on both the primary and secondary (resale) markets.
Home purchasers were eager to complete their acquisitions while the affordability remained within the acceptable range, he added, "owing to a paradigm shift in attitude, that now considers ownership crucial for long term stability."
The expert claimed that residential property deals accounted for 85% of May 2022's property registrations and commercial property deals made up 10% of all May 2022 registrations.
Major participants in Mumbai's primary housing sector include Mahindra Lifespace Developers, Oberoi Realty, Hiranandani Group, Kalpataru Ltd, Tata Housing, Shapoorji Pallonji, Piramal Realty, Rustomjee Group, and K Raheja Group.