Categories: Latest

Mumbai Property Registrations surges 24% in September 2023 to 10694 units

New Delhi, October 04, 2023 :  Property registrations in the Mumbai municipal area surged by 24 per cent in September 2023, reaching approximately 10,694 units, with 82 per cent of them being residential properties. This notable increase in property registration also marks the highest level in the past decade and can be attributed to a growing demand for housing, as reported by Knight Frank India.

As many as 8,628 units were registered during September last year. In the previous month, 10,902 units were registered. Revenue from the registrations were at ₹1127 crore, up 54 per cent as compared to last year and up one per cent as compared to the previous month.
 
Here is what real estate experts have to say:
 
Mr. Sandeep Runwal – President, NAREDCO Maharashtra
“The robust response from homebuyers during the month of Ganesh Utsav indicates the positive sentiments towards home ownership despite higher mortgage rates. Based on the current enquiry levels, we can certainly see a strong sales momentum in the upcoming festive season starting with Navratri.”
 
Mr. Pritam Chivukula – Vice President, CREDAI-MCHI and Co-Founder & Director, Tridhaatu Realty
“The excellent property sale figures have once again highlighted the strong housing demand that Mumbai is presently witnessing. The importance of the need for home ownership is being felt now, more than ever before. The government’s positive policy measures coupled with strong infrastructure growth, rising income levels and positive market sentiments, have all fuelled this growth. We can expect this momentum to continue given the ongoing festive season which can propel housing demand and sales even further.”

Corporate Comm India (CCI Newswire)

The Property Times News Bureau

Share
Published by
The Property Times News Bureau
Tags: Mr. Pritam ChivukulaMr. Sandeep RunwalMumbai municipal areaMumbai Property Registrations surges 24% in September 2023 to 10694 unitsNew DelhiProperty registrations
3 years ago

Recent Posts

RBI Holds Repo Rate at 5.25%; Realty Industry Sees Stability as Growth Driver The Reserve Bank of India’s (RBI) decision to maintain the repo rate at 5.25% and retain its ‘neutral’ monetary policy stance in the third bi-monthly Monetary Policy Committee (MPC) meeting of FY27 has elicited a measured response from the real estate industry. While the sector had hoped for a rate cut to further enhance home loan affordability and stimulate housing demand, industry leaders believe the RBI’s decision reflects a balanced approach amid elevated global uncertainties, volatile energy prices, and inflationary concerns. They noted that stable interest rates will continue to support buyer confidence, provide financial predictability for developers, and sustain the momentum witnessed in the residential real estate market. Mr. Kamlesh Thakur, President, NAREDCO Maharashtra “The RBI’s decision to maintain the repo rate at 5.25% while retaining a neutral stance reflects a prudent approach amid global uncertainties and evolving inflation dynamics. While the industry was hopeful of a rate cut, policy stability itself provides confidence to both developers and homebuyers. With borrowing costs remaining unchanged, housing demand is expected to continue its momentum, particularly in the mid-income and premium segments. The upward revision of India’s GDP growth projection to 6.7% underscores the resilience of the domestic economy. Going forward, as inflation moderates in line with the RBI’s expectations, there could be room for a more accommodative monetary policy. A future rate cut would further improve housing affordability, strengthen buyer sentiment, and accelerate investments across the residential and commercial real estate sectors.” Mr. Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory “The RBI’s decision to keep the repo rate unchanged brings continuity and predictability to the market at a time when global geopolitical developments and inflationary pressures continue to create uncertainty. Stable interest rates ensure that home loan EMIs remain broadly unchanged, allowing prospective buyers to make informed purchasing decisions without concerns over rising borrowing costs. The Indian housing market has demonstrated remarkable resilience over the past few years, supported by strong end-user demand, rising incomes, and growing confidence in the economy. With GDP growth projected at 6.7%, we expect housing demand to remain healthy across key micro-markets.” Mr. Shilpin Tater, Managing Director, Superb Realty “The RBI’s decision to maintain the repo rate is a balanced move considering the current global economic environment and domestic inflation outlook. Policy stability is particularly important for the real estate sector as it enables developers to plan projects with greater financial certainty while allowing buyers to benefit from stable lending rates. Demand for quality residential & commercial developments, especially in well-connected urban locations, is expected to remain robust. We remain optimistic that supportive monetary measures in the future could further strengthen investment activity.” Ms. Shraddha Kedia-Agarwal, Director, Transcon Developers “The RBI has adopted a measured and responsible approach by maintaining the repo rate while closely monitoring inflationary trends and global developments. Although a rate cut would have enhanced affordability for homebuyers, the decision to maintain stability provides confidence to both consumers and developers in an uncertain macroeconomic environment. The premium and luxury housing segments continue to witness healthy demand driven by aspirational buyers and strong wealth creation, while the broader residential market remains supported by genuine end-user demand. Stable financing costs, coupled with India’s improving growth outlook, should sustain market momentum.” Mr. Dhruman Shah, Promoter, Ariha Group “The RBI’s decision to keep the repo rate unchanged reflects its focus on balancing growth with inflation management amidst ongoing global uncertainties. For the real estate sector, policy continuity is a positive outcome as it preserves financial stability and ensures that financing conditions remain predictable for both developers and homebuyers. Stable interest rates, combined with sustained infrastructure investments and urbanization, will continue to support residential sales.”

New  Delhi, August 05, 2026: The Reserve Bank of India's (RBI) decision to maintain the…

2 days ago

Alumil India Designs State-Of-The-Art Fenestration  Solutions For Nagpur’s Landmark High-Rise Residential Project

Mumbai, August 04, 2026: Alumil India, the fully-owned Indian subsidiary of Alumil Group, has successfully executed its…

3 days ago

Pichwai Art for Contemporary Walls by WallKalakar’s

New Delhi, July 31, 2026: Led by Wallpaper Designer T.C. Mathur, WallKalakar's latest Pichwai Collection…

1 week ago

Nominations Invited for Adoni Lifetime Achievement Awards 2026

Hyderabad, July 13, 2026: The Khazi India Foundation has formally invited nominations for the prestigious…

4 weeks ago

CREDAI Pune Launches Site Safety Audit Initiative to Strengthen Construction Site Safety

Maharashtra, July 06, 2026: Reinforcing its commitment to worker welfare and responsible construction practices, CREDAI Pune,…

1 month ago

Khazi Altaf Hussain’s “A Life in Many Frames” Honoured with TRI Literary Awards – Season 5 Nomination

Hyderabad / New Delhi, July 07, 2026: In a moment of immense pride and literary…

1 month ago