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Mumbai Real Estate Booms: Strongest November Since 2013
30 Nov
Summary
- Mumbai's property market saw its best November since 2013.
- Residential property registrations increased by 20% year-on-year.
- Higher-value homes are increasingly in demand.
Mumbai's real estate market achieved its most robust November performance since 2013, driven by escalating demand for residential properties and sustained market confidence.
Property registrations surged by 20% compared to November of the previous year, with stamp duty collections rising by 12%. This indicates a consistent upward trend in buying activity throughout the year, with the January-November period seeing over 1.35 lakh registrations.
There is a discernible trend towards more expensive homes, as properties above Rs 5 crore constituted a larger share of total registrations. Conversely, the market share of homes priced below Rs 1 crore has decreased due to affordability challenges.
