Mumbai sees 10,000+ property registrations fourth month straight
Real Estate

Mumbai sees 10,000+ property registrations fourth month straight

Property registrations in Mumbai reached 10,694 units in September, marking a 24% increase from the previous year. According to the Maharashtra government website, this number represented a 2% decrease compared to the previous period.

However, data spanning the last decade revealed that this September had the highest sales volumes on record. The revenue generated from these registrations amounted to Rs 11.27 billion, reflecting a 54% year-on-year increase and a 1% sequential increase. More than 80% of the registered properties were residential, indicating sustained demand in the housing sector.

Shishir Baijal, Chairman & Managing Director of Knight Frank India, noted the Mumbai residential market's resilience, consistently exceeding the 10,000-property mark. He mentioned that in the first nine months of 2023, there was an average of 10,420 property transactions per month.

Baijal also highlighted the anticipation among homebuyers for a stable interest rate environment, believing that such stability could strengthen the housing market, creating a favourable atmosphere for opportunities and optimism. Looking ahead, the Reserve Bank of India was expected to maintain the current interest rates at the Monetary Policy Committee meeting on October 6.

Dhaval Ajmera, Director of Ajmera Realty and Infra India, attributed the increased demand to infrastructural development and the rise in redevelopment projects across MMR (Mumbai Metropolitan Region). These factors had expanded housing options for potential homebuyers in new and emerging markets.

Property registrations in Mumbai reached 10,694 units in September, marking a 24% increase from the previous year. According to the Maharashtra government website, this number represented a 2% decrease compared to the previous period. However, data spanning the last decade revealed that this September had the highest sales volumes on record. The revenue generated from these registrations amounted to Rs 11.27 billion, reflecting a 54% year-on-year increase and a 1% sequential increase. More than 80% of the registered properties were residential, indicating sustained demand in the housing sector. Shishir Baijal, Chairman & Managing Director of Knight Frank India, noted the Mumbai residential market's resilience, consistently exceeding the 10,000-property mark. He mentioned that in the first nine months of 2023, there was an average of 10,420 property transactions per month. Baijal also highlighted the anticipation among homebuyers for a stable interest rate environment, believing that such stability could strengthen the housing market, creating a favourable atmosphere for opportunities and optimism. Looking ahead, the Reserve Bank of India was expected to maintain the current interest rates at the Monetary Policy Committee meeting on October 6. Dhaval Ajmera, Director of Ajmera Realty and Infra India, attributed the increased demand to infrastructural development and the rise in redevelopment projects across MMR (Mumbai Metropolitan Region). These factors had expanded housing options for potential homebuyers in new and emerging markets.

Next Story
Infrastructure Urban

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..

Next Story
Infrastructure Transport

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..

Next Story
Infrastructure Transport

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..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?