Property registrations rise 15% in Mumbai municipal area in July
Registration of properties in Mumbai's municipal area grew 15 per cent to 11,339 units in July on better demand, according to Knight Frank India.
It is also the highest level for the month of July in a decade.
Out of the total registration of properties in Mumbai city (BMC area), Knight Frank India said that 86 per cent were contributed by residential segment and 10 per cent commercial.
For July, the data has been collated till 3 pm of July 30.
The registration contributed over Rs 829 crore to the state revenues.
"The number of units registered in July 2022 was the best in a decade for the month of July," property consultant Knight Frank said in a statement.
In July 2021, 9,822 units were registered.
"With the looming inflation pressures, RBI opted for a cumulative repo rate hike of 90 basis points that has stretched home buyer affordability. However property registrations remain buoyant," Knight Frank India said.
On month-on-month basis as well, the registration of properties