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Mumbai: Registration of homes down 4% in February
- While year-on-year registration declined, new registrations in February were 20% higher that what was recorded in January (8,1555)
Mumbai: Registration of homes in Mumbai fell 4% year-on-year to 9,805 units in February this year, a property consultant said. In February last year, as many as 10,172 units were registered in the Mumbai municipal region.
While year-on-year registration declined, new registrations in February were 20% higher that what was recorded in January (8,1555).
Mumbai city (MCGM area) witnessed a total property sale registration of 9,805 units in February 2022, Knight Frank India said in a statement.
This includes the registration of homes purchased in primary and secondary (re-sale) markets.
Knight Frank India Chairman and MD Shishir Baijal said the Mumbai property market has regained its sales momentum based on the continuous demand the city has been witnessing.
He said the buyers continue to feel empowered to make their purchases backed by lower interest rates and price discounts. "The end–users do not want to lose out on the opportunity to make their purchase at the right time," Baijal said.
Given that buyer conducive conditions have now lasted for over a year, he said there is a sense that very soon developers may reduce or stop providing attractive offers. "Interest rates may also rise if the RBI raises the Repo rate to control inflation," he noted.
Among the major players in Mumbai's primary housing market 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.
With agency inputs
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Business NewsNewsMumbai: Registration of homes down 4% in February
First Published:28 Feb 2022, 04:52 PM IST
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