Mumbai property market witnessed the registration of over 9675 units in June 2022 while monthly state revenue collections reached INR 714 crores through stamp duty, data from the Inspector General of Registration, Maharashtra revealed. Both the units registered and stamp duty collection was the highest ever for the month of June setting a new benchmark. The number of units registered in June 2022 was also the best in a decade for the month of June.
As many as 52 percent registrations were in the price band of INR 1 crore and over, while in terms of apartment size homes ranging between 500-1000 sq ft was the most preferred category of property registered in June 2022, said an analysis by Knight Frank India.
Pritam Chivukula, Co-Founder & Director, Tridhaatu Realty and Treasurer, CREDAI MCHI exclaimed:
"June 2022 has yet again witnessed higher property registrations in Mumbai with the demand continuing to be robust. We are already witnessing an upward revision in the prices due to the rise in interest rates and higher stamp duty prices. The strong sales is apparent as the homebuyers have rushed in to buy properties with a fear of further increase in interest rates and eventually the property prices."
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