Property Registration in Mumbai down by 26% to 7,732 units in Jan

02 Feb 2022 CW Team

In January 2022, 7,732 units were registered for sale in the Municipal Corporation of Greater Mumbai (MCGM) region, compared to 10,412 units in the same month last year.

The consultant said in a statement that this is due to difficulties encountered in the first half of the month as a result of the third wave of Covid, which slowed movement.

In January 2022, the government received Rs 453 crore in revenue from property registrations.

While registrations were down 26% year over year in January 2021, revenues were up 48%. According to Knight Frank, the same period last year had a lower stamp duty rate window of 3% and was not as badly affected by Covid.

The consultant went on to say that the January 2022 registration volume is higher than any January before Covid.

According to Shishir Baijal, Chairman & Managing Director, Knight Frank India, caution over the third wave has influenced sentiments, which is reflected in January registrations.

The Union Budget and Monetary Policy actions, according to Baijal, will be critical in catalysing latent demand over the next fortnight.

Knight Frank's data on housing property registration covers both primary and secondary (resale) markets.

According to a report published earlier this month, registration of homes in the Mumbai Metropolitan Region (MMR) increased by 53% last year to 2.42 lakh units, owing to Maharashtra's reduction in stamp duty and low-interest rates on home loans. Confederation of Real Estate Developers' Associations of India-Maharashtra Chamber of Housing Industry (CREDAI-MCHI), real estate consultant Colliers India, and data analytics firm CRE Matrix collaborated on the report.

Residential property registrations totaled 2,42,061 units in 2021, compared to 1,58,327 units in 2020 and 2,01,613 units in 2019.

Abhishek Kiran Gupta, CEO of CRE Matrix, said the value of property registered was Rs 1.9 lakh crore last year, Rs 1.12 lakh crore in 2020, and Rs 1.29 lakh crore in 2019.

Image Source

Also read: Mumbai's housing registrations surge 53% to 2.42 lakh units in 2021

According to Knight Frank India, registration of residential properties in the Mumbai municipal area fell 26% on an annual basis to 7,732 units due to movement restrictions imposed to halt the spread of the Covid-19 pandemic. In January 2022, 7,732 units were registered for sale in the Municipal Corporation of Greater Mumbai (MCGM) region, compared to 10,412 units in the same month last year. The consultant said in a statement that this is due to difficulties encountered in the first half of the month as a result of the third wave of Covid, which slowed movement. In January 2022, the government received Rs 453 crore in revenue from property registrations. While registrations were down 26% year over year in January 2021, revenues were up 48%. According to Knight Frank, the same period last year had a lower stamp duty rate window of 3% and was not as badly affected by Covid. The consultant went on to say that the January 2022 registration volume is higher than any January before Covid. According to Shishir Baijal, Chairman & Managing Director, Knight Frank India, caution over the third wave has influenced sentiments, which is reflected in January registrations. The Union Budget and Monetary Policy actions, according to Baijal, will be critical in catalysing latent demand over the next fortnight. Knight Frank's data on housing property registration covers both primary and secondary (resale) markets. According to a report published earlier this month, registration of homes in the Mumbai Metropolitan Region (MMR) increased by 53% last year to 2.42 lakh units, owing to Maharashtra's reduction in stamp duty and low-interest rates on home loans. Confederation of Real Estate Developers' Associations of India-Maharashtra Chamber of Housing Industry (CREDAI-MCHI), real estate consultant Colliers India, and data analytics firm CRE Matrix collaborated on the report. Residential property registrations totaled 2,42,061 units in 2021, compared to 1,58,327 units in 2020 and 2,01,613 units in 2019. Abhishek Kiran Gupta, CEO of CRE Matrix, said the value of property registered was Rs 1.9 lakh crore last year, Rs 1.12 lakh crore in 2020, and Rs 1.29 lakh crore in 2019. Image Source Also read: Mumbai's housing registrations surge 53% to 2.42 lakh units in 2021

Equipment

12 Dec 2025

Schwing Stetter India Unveils New Innovations at Excon 2025

Schwing Stetter India unveiled more than 20 new machines at Excon 2025, marking one of its most significant showcases and introducing several India-first technologies to the construction equipment sector. The company launched the country’s first 56-metre boom pump designed and manufactured in India, the first fully electric truck mixer, the first CNG mixer variant and the first hybrid boom pump. Executives said the launch portfolio was engineered to support India’s move toward faster, greener and more vertically oriented infrastructure through advanced engineering, clean-energy solutions a..

Infrastructure Energy

12 Dec 2025

SEPC Resolves Hindustan Copper Dispute, Wins Rs 725 Mn Order

Engineering, procurement and construction firm SEPC Ltd has recently settled a dispute with Hindustan Copper Ltd (HCL) and secured a mining infrastructure order valued at Rs 725 million from the state-owned company. SEPC informed the stock exchanges that it has executed a settlement deed with HCL, bringing closure to all inter-se claims and counterclaims arising from arbitration proceedings. As part of the settlement, SEPC will receive Rs 304.5 million as full and final payment, marking the resolution of all pending disputes between the two entities. The company also stated that Hindustan Co..

Infrastructure Energy

12 Dec 2025

20% Ethanol Blending Cuts India’s CO2 Emissions by 73.6 Mn Tonnes

Union Road Transport and Highways Minister Nitin Gadkari recently said that India has reduced carbon dioxide emissions by 73.6 million metric tonnes due to the adoption of 20 per cent ethanol blending in petrol. He made the statement while replying to supplementary questions during the Question Hour in the Lok Sabha. Describing ethanol as a green fuel, the minister said it plays a key role in reducing pollution while also supporting higher incomes for farmers. He underlined that ethanol blending contributes both to environmental sustainability and rural economic growth. Nitin Gadkari also po..