In the real estate market of Mumbai, more than 4,800 properties have been registered, ahead of Diwali, which symbolizes the peak of the festive season in India. The real estate market of Mumbai reported 12,600 property registrations during the festive season of Navratri and Diwali 2023. According to study done by a real estate consultancy firm, Knight Frank India, the festive time of 2023 reported a 30 percent pitch in property registrations compared to the year 2022.
Knight Frank India report added “As per the data, from the month of October 15 to November 15 until Bhai Dooj 2023, The Mumbai City reported 12,600 property registrations and income generated from registration of the properties during this period exceeded Rs 1,257 crores”.
In proportion to Knight Frank India, a real estate consultancy venture, the inception of the festive season brought a greeting boost up to the market of properties, as the registrations of the properties flowed amidst a beckon of positivity among home-buyers. This flow in demand of property registrations was fueled by an amalgamation of factors such as stable interest rates and an increasing wish among homebuyers to improve to larger and more spacious homes.
Further the report states “During the festive season in the year 2022, there are 9,659 property registrations were reported. The daily standard registration rate of properties climbed from 322 to 407 units”.
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