Mumbai sees 22% annual rise in May property registrations

03 Jun 2024 CW Team

According to real estate consultant Knight Frank, there was a 22 per cent increase in property registrations in the Mumbai municipal region during May, amounting to 12,000 units. Knight Frank India, citing data from the Maharashtra government, mentioned that Mumbai city, falling under the BMC jurisdiction, witnessed approximately 12,000 property registrations last month, compared to 9,823 units in May of the previous year. In May 2024, the state exchequer collected Rs 10.34 billion, reflecting a 24 per cent rise from the same month in the previous year.

It was reported that residential units constituted 80 per cent of the total registered properties in May 2024. Shishir Baijal, Chairman & Managing Director of Knight Frank India, noted that the consistent year-on-year growth in property sales and registrations signifies a continuation of the growth trajectory, which was initially fuelled by state government incentives. Despite an increase in average prices across the city, sales and registrations of properties have managed to sustain their momentum, he added.

Baijal stated that this trend indicates the market's appetite and the confidence buyers have in the country's economic fundamentals. He further mentioned that this positive trend is anticipated to continue, supported by robust economic growth and a favorable interest rate environment, which will create a conducive atmosphere for potential buyers.

In the first five months of the current year, the total number of properties registered stood at 60,820, marking a 17 percent increase from 52,173 units registered in January-May 2023.

Infrastructure Urban

10 Mar 2026

India Seals Rs 50.83 bn Defence Deal For ALH Mk-III And Shtil

India has finalised a defence procurement valued at Rs 50.83 billion (bn) aimed at strengthening aerial and maritime capabilities. The package covers Advanced Light Helicopter Mark III and Shtil shipborne missile systems. The move reflects a continued focus on modernisation of forces and onshore maintenance capacities. The procurement is expected to support operational readiness and to stimulate maintenance and supply chain ecosystems tasked with sustaining the platforms.\n\nThe Advanced Light Helicopter Mark III is expected to enhance rotary wing operations across multiple roles including sur..

Madurai Plans Major EV Infrastructure Boost

Madurai municipal authorities have unveiled a plan to accelerate electric vehicle infrastructure across the city. The initiative aims to expand public charging networks, support private investment and create an enabling environment for wider adoption. Officials have set priorities that include accessibility, affordability and integration with urban mobility plans. Stakeholders will be consulted to align the plan with local needs and land use. The programme will prioritise deployment of charging points in commercial centres and at transport hubs. Emphasis will be placed on fast charging capacit..

IIFCL To Raise One Point Six Billion Dollars For Infrastructure

India Infrastructure Finance Company Limited plans to raise one point six billion dollars in a resource mobilisation drive to support infrastructure development. The amount was described as about Rs 145 billion and the firm said it would mobilise funds from multilateral agencies and overseas investors to build a diversified, cost effective long term funding base. The managing director said the focus will be on securing competitive long tenor funds aligned with the loan book.\n\nUntil December, the company mobilised JPY 26 billion from SMBC as external commercial borrowing, equivalent to around..