Mumbai Property Market Gains Momentum with 5% Increase in Registrations in November

According to Knight Frank India, the Mumbai municipal region had a 5% increase in property registrations in November 2024, with over 10,200 units registered, indicating ongoing housing demand. By contrast, in November 2023, 9,736 units were registered.

Mumbai city, which is governed by the Brihanmumbai Municipal Corporation (BMC), recorded 10,216 property registrations as of 8 PM on Saturday, according to a statement issued by Knight Frank India. As more registrations are processed, the ultimate total is anticipated to increase marginally. On the other hand, fewer units were registered in November than in October 2024 (12,960 units). Shishir Baijal, CMD of Knight Frank India, ascribed this sequential decline to market stabilisation after an October spike caused by celebrations.

“The growing demand for premium properties and larger living spaces signifies a decisive shift towards quality, value, and long-term investment in the city’s ever-dynamic real estate landscape,” Baijal said, highlighting a noteworthy trend within Mumbai’s real estate industry. The information highlights Mumbai’s increasing demand for expensive real estate, which is in line with shifting consumer tastes and the changing nature of the city’s real estate industry.

Source: Construction World

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