April 2024 records the highest number of property registration in Mumbai

In Mumbai Real estate market, the property registration jumped 9% to 11,504 in April 2024, from 10,514 a year earlier. According to the data of Maharashtra Government, the amount of stamp duty collection from the registration of property shot up by 16% to Rs. 1,043 crore in April 2024 from Rs. 900 crore last year.

Based on a month-on-month calculation data the total number of property registrations stood at 14,149 in March 2024 along with stamp duty collections of Rs. 1,123 crore. The data of Knight Frank report says that, during the April 2024,the residential units rose up and covered 80% of the properties which were registered under Mumbai real estate market.  

The report also shows that, maximum of the property buyers in April 2024, are belong to the category of millennial aged between 28-43, covering up 37% of the total share. The buyers belong to the age group of 44-59 constitutes 36% of the buyers. 6% of them are below of 28 years, and 18% belong to the age group of 60-78.

The chairman and managing director of Knight Frank India, Shishir Baijal, commented, “The buoyant market conditions have significantly boosted the state treasury, marking its highest-ever revenue collection for April. Property registrations in April have surged 9%over the previous year, highlighting the market's attractiveness to potential homebuyers."

During Aril 2024, Mumbai Real estate market anticipated the 2nd highest number of property registration in 12 years along with the highest stamp duty collection. Among the total number of registration of properties western suburbs together constituted over 73%. These parts attracted the maximum chunk of buyers because of its vast range of modern amenities and  good connectivity.