A large number of property registrations took place in February.
In all, 11,833 registrations took place, netting Rs 869 crore in revenue.
An unprecedented number of property registrations, unheard during the past 12 years, took place in February in Maharashtra. The statistics indicate that at least 11,833 registrations of properties took place in the month, enabling the state exchequer to earn Rs 869 crore in revenue.
It is a record of sorts in the registrations that took place in the past 12 years. The state exchequer earned Rs 760 crore in revenue by way of stamp duty through the registration of 10,967 registrations during January this year. The number of registrations in February surpassed the registrations that had taken place in the first month of the new year.
Generally, builders and real estate traders announce offers on flats and housing plots for the New Year, Sankranti, Ugadi, Dasara, Diwali, and Dhanteras festivals to attract buyers. They offer a stamp duty exemption if anyone books a flat within a definite period of time. Alternatively, they also offer cars, motorcycles, and gold coins as incentives to prospective buyers. The buyers get attracted to these offers and book homes and flats. There was no notable festival in February, yet record-level houses have been purchased and properties registered in the month, to the surprise of one and all.
The following is the sales record of houses during the past 12 years:
Year: Housing units sold
2013 4,840
2014 4,843
2015 4,986
2016 5,208
2017 3,664
2018 6,631
2019 5,230
2020 5,927
2021 10,172
2022 10,379
2023 9,684
2024 11,833
