Mumbai Property registrations soar 26% in October 2023
Real Estate

Mumbai Property registrations soar 26% in October 2023

In October, property registrations in the Mumbai municipal region saw a significant annual increase of 26%, reaching a total of 10,607 units, as reported by Knight Frank India. This surge marked a notable rise from the 8,422 properties registered in the same month the previous year within Mumbai city's BMC jurisdiction.

Residential units constituted 80% of the total registered properties. October 2023 witnessed the highest number of registrations in the past 11 years, indicating a robust real estate market.

Shishir Baijal, Chairman & Managing Director of Knight Frank India, highlighted the enduring strength of the Mumbai residential real estate sector, consistently surpassing 10,000 property transactions. Boman Irani, President of CREDAI, noted that the positive trend in property registrations and housing sales during October reflects homebuyers' optimism, especially during the festive season.

Irani emphasised several factors contributing to this trend, including the auspicious time to purchase a house, increased preference for buying over renting, and homebuyers opting for larger homes. Developers offering discounts and bonuses have empowered homebuyers, enabling them to invest in more spacious and tailored residences, aligning with their evolving lifestyle needs.

Irani also attributed the market's momentum to a relatively stable lending environment and robust economic growth, which have further bolstered the real estate sector.

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

In October, property registrations in the Mumbai municipal region saw a significant annual increase of 26%, reaching a total of 10,607 units, as reported by Knight Frank India. This surge marked a notable rise from the 8,422 properties registered in the same month the previous year within Mumbai city's BMC jurisdiction. Residential units constituted 80% of the total registered properties. October 2023 witnessed the highest number of registrations in the past 11 years, indicating a robust real estate market. Shishir Baijal, Chairman & Managing Director of Knight Frank India, highlighted the enduring strength of the Mumbai residential real estate sector, consistently surpassing 10,000 property transactions. Boman Irani, President of CREDAI, noted that the positive trend in property registrations and housing sales during October reflects homebuyers' optimism, especially during the festive season. Irani emphasised several factors contributing to this trend, including the auspicious time to purchase a house, increased preference for buying over renting, and homebuyers opting for larger homes. Developers offering discounts and bonuses have empowered homebuyers, enabling them to invest in more spacious and tailored residences, aligning with their evolving lifestyle needs. Irani also attributed the market's momentum to a relatively stable lending environment and robust economic growth, which have further bolstered the real estate sector.

Next Story
Real Estate

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

Next Story
Infrastructure Transport

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Next Story
Infrastructure Transport

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?