Mumbai: Property registrations escalated in July; Over 11,300 units registered
In July this year, the registration of properties in Mumbai's municipal area grew 15% to 11,339 units. Last year, in July, 9,822 units were registered
PremiumMumbai witnessed huge demand for properties last month as a result the registrations also saw an uptick, according to a report by Knight Frank India.
In July this year, the registration of properties in Mumbai's municipal area grew 15% to 11,339 units. Last year, in July, 9,822 units were registered.
As per the report, the latest data on Mumbai's property registration is at the highest level for the month of July in a decade.
"The number of units registered in July 2022 was the best in a decade for the month of July," property consultant Knight Frank said in a statement.
The property registrations have crossed the 11,000 mark for the first time since April 2022. In April, a metro cess was implemented that effectively increased the stamp duty by 1%.
The registration contributed over ₹829 crore to the state revenues.
Out of the total registration of properties in Mumbai city (BMC area), Knight Frank India said that 86% were contributed by the residential segment and 10% commercial.
The report added that 15% of properties registered in July were filed in March 2022 and around 7% of these deals were filed in June 2022.
House costs in Mumbai:
As per the latest data by Livemint, a 1BHK flat in Vasai region (7,300-9,500 sq ft) costs between ₹24 lakh and ₹42 lakh.
In Thane, a 1BHK flat (13,500-17,000 sq ft) costs between ₹48 lakh and ₹74 lakh. Whereas 2BHK flat in Thane (13,000-20,000) costs between ₹75 lakh and ₹150 lakh.
1 BHK flats under ₹45 lakh:
- Neral (15-27 lakh)
- Badlapur (20-38 lakh)
- Vasai (24-42 lakh)
- Virar (24-44 lakh)
- Dronagiri (35-45 lakh)
1 BHK flats between ₹45 lakh- ₹75 lakh:
- Kamothe (40-60 lakh)
- Panvel (40-69 lakh)
- Kalamboli (40-69 lakh)
- Thane (48-74 lakh)
- Dahisar (50-74 lakh)
2 BHK flats above ₹75 lakh:
- Thane (75-150 lakh)
- Kharghar (80-135 lakh)
- Airoli (85-150 lakh)
- Kandivali (105-170 lakh)
- Malad (11--165 lakh)
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