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.”

Real Estate

31 Oct 2025

Birla Estates Tops Global GRESB 2025 Rankings

Birla Estates (BEPL), a wholly owned subsidiary of Aditya Birla Real Estate (formerly Century Textiles and Industries Limited), has been recognised as a Sector Leader in the 2025 GRESB Real Estate Assessment, securing top honours across multiple global and regional categories.Birla Estates’ Achievements in GRESB 2025:Global Sector Leader – ResidentialGlobal Sector Leader – Non-Listed ResidentialRegional Sector Leader – Asia – ResidentialRegional Sector Leader – Non-Listed – Asia – ResidentialThese distinctions reaffirm Birla Estates’ exceptional performance in Environmental, ..

Progota India Secures RDSO Clearance for Kavach 4.0

Concord Control Systems, one of India’s leading manufacturers of embedded electronic and critical system solutions, announced that its associate company, Progota India, has received Technical Prototype Clearance from the Research Designs and Standards Organisation (RDSO) for Kavach 4.0, the latest version of Indian Railways’ indigenous Automatic Train Protection (ATP) system.With this clearance, Progota has been formally approved to execute its ongoing trial order from South Central Railway, marking a key milestone in India’s railway modernization journey. The approval also establishes P..

MPS Interactive Systems Completes Full Acquisition of Liberate Group

MPS Interactive Systems (MPSi), a material subsidiary of MPS, has completed the acquisition of the remaining shareholding in the Liberate Group of Companies—comprising Liberate Learning, App-eLearn, and Liberate eLearning.With this transaction, MPSi now holds 100 per cent ownership of all entities within the Liberate Group, making them its wholly owned subsidiaries. The acquisition was executed in line with the valuation methodology defined in the original transaction documents.Commenting on the development, Rahul Arora, Chairman and CEO of MPS, said, “The corporate learning sector continu..