Mumbai saw over 16,000 property sale registrations in March 2022: Data

Property sale registrations hit 16,152 units in March 2022 in Mumbai, contributing nearly Rs 1,131 crore to state revenue, according to data from the Inspector General of Registration of Maharashtra.

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The number of registered units in March 2022 was the third best in a decade, while the state’s monthly revenue was at its highest level in 10 years, according to data compiled by Knight Frank India.

Peak listings were in the price bracket of Rs 1-5 crore, while in terms of apartment size, mid-sized houses between 500-1,000 sq ft were the most preferred property category recorded in March 2022.

“Mumbai saw a huge increase in property registrations for the month of March which is very similar to last year’s robust sales which were due to the reduction of stamp duty by the Maharashtra government,” Sandeep said. Runwal, Chairman of NAREDCO Maharashtra.

He added: “Over 16,000 homes have been registered this month, indicating that consumers have taken the last opportunity to buy properties when prices are expected to rise due to factors such as the metro tax. of 1%, the loan calculation rates, the increase in stamp duty and the rise. in commodity prices. We demand the intervention of the Ministry of Housing to curb the increased difficulties faced by estate agents and buyers, otherwise it will be a big setback for the government’s mission to “housing for all”, because affordable housing will be a distant dream” .

Elizabeth J. Harless