Mumbai property registrations dip in July 2023

02 Aug 2023 CW Team

Mumbai (area under Brihanmumbai Municipal Corporation) witnessed over 10,221 property registrations in the month of July helping generate stamp duty collection worth nearly Rs 831 crore for the state exchequer. As per data from the inspector general of registration, Maharashtra, the city had seen a stamp duty collection of Rs 829 crore on the back of registrations of 11,340 in July 2022. The number of registered units in July 2023 is marginally less than the number of units registered in the previous month (June 2023) at 10,319 units.

On an annual basis, the registrations fell short by 10 per cent compared to the units registered a year ago in July 2022. The increase in property prices, combined with a notable rise of 250 basis points (bps) in the interest rate during this period, had a severe impact on property registrations in the below Rs 1 crore segment.

Sandeep Runwal, President, NAREDCO Maharashtra, said, “The demand in the mid-income and premium segment continues to be robust. However, the steep hike in mortgage rates implemented since last year has started affecting the interest rate-sensitive affordable housing category. It would be an appropriate time to look at the cost of premiums and boost the housing sector to prevent a slowdown.”

Pritam Chivukula – Vice President, CREDAI-MCHI and Co-Founder & Director, Tridhaatu Realty, said, “These figures only go on to reiterate that there is a sustained demand for housing. The government has initiated positive policy measures; this coupled with improved market sentiments and a rise in income levels has further fuelled housing demand. The housing market has been buoyant with home buyers coming forward to purchase their homes. However, the hike in mortgage rates has dented demand in the affordable housing segment. We look forward to the government's continued support that will sustain home sales, going forward.”

Infrastructure Urban

07 Oct 2025

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..