During the first week of November over 1,400 homes registered in Mumbai

In October 2021, the city recorded a 10- year best sale registration of 8,576 units, said a property consultant. The registration is more than 8% from the same month last year.

On strong demand during the Diwali festival, during the first week of November Registration of residential properties in the Mumbai municipal region stood at 1,441, according to Knight Frank India. All details of the properties bought in both primary and secondary (re-sale) markets are in registration data.

Knight Frank India, Chairman, and Managing Director said that the COVID pandemic has fuelled the idea of homeownership.

In October 2021, the city recorded a 10- year best sale registration of 8,576 units, said the property consultant. The registration is more than the 8% from the same month last year.

“…At the ongoing registrations rate, November is likely to mark a cumulative 1 lakh units for the year 2021,” it said in a statement.

Chairman said, “The ongoing festivities have complemented the already positive outlook that home buyers had exuded over the past year or so. The same is reflected on the property registration numbers, wherein we are seeing best levels in consequent months of September and October.”

Baijal said the superior sense of the economic environment and the speedy COVID vaccination scope across the region has advanced assurance to homebuyers.

“Hence, even while the government stamp duty incentive has been rolled back, a combination of positive factors like multi-decade low home loan interest rate, affordable property prices, and developer offerings on new products and payment flexibility has pushed fence-sitters too to take the purchase decision sooner than later,” he observed.

In Mumbai’s primary housing market, major players are Macrotech Developers (Lodha group), Godrej Properties, Oberoi Realty, Hiranandani group, Kalpataru Ltd, Tata Housing, Shapoorji Pallonji, Piramal Realty, Mahindra Lifespace Developers, Rustomjee Group, and K Raheja group.