Record Surge in Mumbai Property Registrations

Property registrations in Mumbai's municipal region increased by 12% in January, reaching 12,249 units, the highest for January in 13 years. Although there was a decline compared to December, strong demand remains, particularly in the premium segment, according to Knight Frank India.

Mumbai's real estate market witnessed a remarkable 12% increase in property registrations this January, as noted by Knight Frank India. The number of registrations reached 12,249 units, marking the highest January figures in 13 years.

In comparison, January last year saw 10,967 registrations, and last December recorded 12,418 units. The current figures indicate a robust housing demand, especially following the festive season, as highlighted by industry experts.

Despite a sequential decline in both registration and revenue collection, Shishir Baijal of Knight Frank India stressed that this is typical historically. He emphasized the sustained strength in the premium housing segment. Proptech firm Reloy's CEO, Akhil Saraf, noted that housing demand remains vigorous post-festive season.

(With inputs from agencies.)