Mumbai property registrations peak in June

04 Jul 2022 CW Team

Despite the increase in interest rates and the elimination of the reduced stamp duty advantage, Mumbai, the largest and most expensive real estate market in the nation, continued its record-breaking streak in June.

The number of property registrations in India's financial hub increased by 23 per cent from a year earlier to over 9,675 during the month, making it the largest in terms of both the volume of transactions and the amount of stamp duty collected. The state exchequer has received over Rs 7.14 billion from stamp duty fees, up more than 70 per cent from a year ago due to the larger number of agreements that were completed.

Growing employment and job markets, increased incomes, income stability, returning to the office and campus scenarios, and substantial core sectors of the economy that pose a greater degree of resumption all have a good cumulative effect on the demand for homes.

Homes between 500 and 1000 sq ft were the most popular kind of apartment during the month, with over 52 per cent of property registrations falling in the Rs 10 million and above price range.

With a contribution of 46 per cent of June's registrations, the age group of 31 to 45 years old had the highest percentage of house purchasers. 32 per cent of homebuyers were in the 46 to 60 year old age range, while 11 per cent were under 30 and 11 per cent were over 60. 38 per cent of the properties registered during the month are tiny dwellings under 500 sq ft, up from 34 per cent in May.

Following the state government's announcement of a limited-window cut in stamp duty, Mumbai has recently been establishing new standards for real estate transactions.

Equipment

11 Dec 2025

Caterpillar Debuts Three New Cat Excavators at EXCON 2025

Caterpillar Inc., a global leader in construction and mining machinery, strengthened its commitment to India’s infrastructure growth with the debut of three new Cat® hydraulic excavators at EXCON 2025, held from December 9–13 at the Bangalore International Exhibition Centre. The new models—Cat 321, Cat 322 and Cat 324—mark a significant step forward in delivering efficient, digital-ready equipment tailored for India’s evolving construction needs.Designed to support sustainability and productivity on modern jobsites, the machines feature advanced powertrains and intelligent electrohy..

JK Tyre Expands OTR Lineup with Four New Launches at EXCON 2025

JK Tyre & Industries, one of India’s leading tyre manufacturers, introduced four new Off-the-Road (OTR) tyres at the 13th edition of CII EXCON 2025, South Asia’s largest construction equipment exhibition, underway at the Bangalore International Exhibition Centre. The latest additions strengthen the company’s OTR portfolio and reaffirm its focus on delivering advanced mobility solutions for construction, mining and industrial operations.The new tyres were unveiled by R Mukhopadhyay, Director (R&D), JK Tyre. Among the highlights was the debut of the SKY GRIP, a specialised tyre des..

ACE, Sanghvi Movers Ink MOU to Boost India-Made Heavy Crane Adoption

Action Construction Equipment (ACE), the world’s largest pick-and-carry crane manufacturer and a leading Indian construction equipment maker, has entered into a strategic Memorandum of Understanding with Sanghvi Movers, Asia’s largest and the world’s fifth-largest crane rental company. The partnership aims to accelerate the deployment of indigenously manufactured heavy slew cranes, particularly truck cranes and crawler cranes, across large-scale infrastructure and industrial projects in India.The alliance aligns strongly with the Government of India’s “Aatmanirbhar Bharat” and “M..