In the first half of 2024, Mumbai’s real estate market saw the registration of 1.90 lakh rental agreements, also known as leave and license agreements. This represents a 13% rise compared to the 1.67 lakh agreements registered during the same period in 2023, according to data from the Maharashtra Inspector General of Registration (IGR). These registrations span residential, commercial, and retail segments.
From January 1 to July 18, 2024, around 2.09 lakh rental agreements were registered.
Real estate consultants suggest that the rise in rental agreement registrations indicates more buildings are undergoing redevelopment. Additionally, increased commercial and retail leasing is contributing to this growth.
Source: Hindustan Times
