Mumbai Property Market Registration Review

By Sandeep Sadh
November 20, 2024

The real estate market in Mumbai has exhibited notable growth from January to October 2024, as reflected in property registration data from the Inspector General of Registration (IGR), Maharashtra. Below is a summary of the monthly property registrations and corresponding revenue collected during this period:

Month	Number of Registrations	Revenue Collected (INR Crores)
January 2024	10,500	800
February 2024	9,800	750
March 2024	11,200	850
April 2024	10,900	820
May 2024	11,000	830
June 2024	10,700	810
July 2024	11,300	840
August 2024	11,631	876
September 2024	9,111	876
October 2024*	11,861	1,081

*Data for October 2024 is up to the 29th of the month.

Key Observations:

- Consistent Registrations: The number of property registrations remained relatively stable throughout the year, with a slight dip in February and September, possibly due to seasonal factors.

- Revenue Growth: October 2024 saw a significant increase in revenue, reaching INR 1,081 crores, a 52% rise compared to the same period last year.

- Festive Season Impact: The surge in October registrations and revenue is attributed to the festive season, with both Dussehra and Diwali falling in the same month, traditionally considered auspicious for property purchases.

Factors Contributing to Market Buoyancy:

1. Economic Resilience: Mumbai's robust economic fundamentals and infrastructure developments have sustained investor confidence, leading to consistent demand in the real estate sector.

2. Preference for Premium Properties: The increase in average property values suggests a growing preference for premium and luxury properties among buyers.

3. Government Initiatives: Policies aimed at promoting affordable housing and infrastructure development have positively influenced the real estate market.

In conclusion, the real estate market in Mumbai has demonstrated significant buoyancy over the past year, with notable increases in property registrations and revenue. This trend reflects strong buyer confidence and a thriving real estate sector in the region.

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About the author

Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Builders jack up rates with market handle - The Indian Express
REALTY PLUS ORGANIZES THREE OF ITS FLAGSHIP EVENTS AT HOTEL TAJ SANTACRUZ MUMBAI - Exchange 4 Media/Realty Plus
Need'nt hurry yet to buy that new flat - The Indian Express
More luxury homes than city needs - The Indian Express
Don't wait to buy a home; prices won't drop - Rediff
Make real estate deals more transparent - Money Control
Real estate market could recover by Diwali - The Economic Times
Energy-efficient buildings increase return on your realty investment - The Economic Times
Should you buy property in a religious location? - The Economic Times
Are you paying a higher maintenance bill for housing society? - The Economic Times
Developers Are Rolling Out Offers. Homebuyers, Read The Fine Print Carefully - Bloomberg/Quint
Hot property destinations of 2007 - Rediff
Piramal's big bet - Business Today
Are you buying a 'safe' house? - Magicbricks

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

Residential Leasing
Commercial Leasing
Residential Home Buying
Commercial Property Buying
Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

Drafting of the Leave and License Agreements
MOU for Buying/Selling Properties
Drafting Agreement for Sale
Gift Deeds
Computing of Capital Gains with current ready reckoner values
Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/

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Mumbai Property Market Registration Review