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Mumbai property registrations down 16% YoY in September amid 'shradh' and higher home prices

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Mumbai property registrations down 16% YoY in September amid 'shradh' and higher home prices

- Mumbai property registrations in September 2024 decreased by 16% compared to September 2023. - The decline in registrations can be attributed to the inauspicious "shradh" month during which many refrain from making property purchases. - Investors pulling back from the overheated real estate market could have also contributed to the slowdown in registrations. - In September 2024, a total of 9,005 properties were registered in Mumbai, compared to 10,694 registrations in September 2023. - The residential segment accounted for 80% of the total registrations in September 2024. - The contribution to the exchequer through stamp duty reduced to around Rs 872 crore in September 2024, compared to Rs 1,127 crore in the same month last year.

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