Over 1 lakh registrations in nine months
Mumbai, the financial capital of India, is witnessing a remarkable surge in its real estate sector. As of this year, property registrations in Mumbai have crossed the one lakh mark, marking the fastest growth in a decade. According to Knight Frank India, property registrations in Mumbai have increased by 12% up to September, surpassing 100,000 deals.
During these nine months, the Mumbai municipal region recorded 105,664 property registrations, compared to 94,309 units during the same period last year. Revenue generated from property sales registrations has risen by 6%, reaching ₹8,892 crores.
In September, residential units accounted for 80% of total registrations. Properties priced at Rs 2 crore and above made up 23% of the registrations, up from 18% in September 2023. Conversely, the share of properties valued under Rs 50 lakh fell from 28% to 17%.
Looking at the size of the properties, apartments ranging from 500 to 1,000 square feet comprised 52% of total registrations. The share of apartments measuring 1,000 square feet or more increased from 19% in 2023 to 22% in 2024.
