Property registrations in Mumbai slump in August
Real Estate

Property registrations in Mumbai slump in August

Property registrations in Mumbai declined in August from the previous month, as the reduced stamp duty rate's benefit granted by the Maharashtra government to new home buyers no longer exists.

Mumbai's property registrations continued to rise from one year earlier due to a low base to compare with and purchases by women who are provided a 1% reduction in stamp duty.

According to data from the Inspector General of Registration, Maharashtra, as many as 6,635 deals were registered in Mumbai's property market in August.

This indicates a 32% fall in registrations from July, but over two-and-a-half times rise against 2,642 registrations in August last year.

Stamp duty collection at Rs 400 crore is down 27% against July but 135% up from a year before.

The government had given a four-month window for deals registration if the stamp duty was paid before March-end, and it was closed in July.

According to property brokers, the deal flow has slowed down in anticipation that the state government could declare a fresh reduction in the duty.

Developers are also keen to witness a cut in charges and are ready to give an equal amount of benefit to homebuyers.

President-elect of the National Real Estate Development Council (naredco), Rajan Bandelkar, told the media that the government should decrease the stamp duty as this would be a favorable situation for all stakeholders. Naredco members will meet the quantum of stamp duty reduction by the government, thereby giving a benefit to homebuyers.

To celebrate International Women’s Day on March 8, the Maharashtra government declared a 1% concession in present stamp duty for women homebuyers for FY 21-22.

Knight Frank India, CMD, Shishir Baijal, said that since June 2021, the percentage contribution of women buyers to the total registrations has been constant between 4-5%.

While in the first two months, the women buyers number availing for this stamp duty was limited, a moderate uptick since June is being observed.

In Mumbai, the female homebuyer's share in new residential sales has been growing, largely on the end of this stamp duty incentive.

Through various policies, the central government has also been promoting homeownership by women across the country, for the last several years.

Image Source


Also read: Maharashtra records 93% property registration revenue hike in July

Also read: Mumbai tops residential real estate market recovery in Q1 FY22

Property registrations in Mumbai declined in August from the previous month, as the reduced stamp duty rate's benefit granted by the Maharashtra government to new home buyers no longer exists. Mumbai's property registrations continued to rise from one year earlier due to a low base to compare with and purchases by women who are provided a 1% reduction in stamp duty. According to data from the Inspector General of Registration, Maharashtra, as many as 6,635 deals were registered in Mumbai's property market in August. This indicates a 32% fall in registrations from July, but over two-and-a-half times rise against 2,642 registrations in August last year. Stamp duty collection at Rs 400 crore is down 27% against July but 135% up from a year before. The government had given a four-month window for deals registration if the stamp duty was paid before March-end, and it was closed in July. According to property brokers, the deal flow has slowed down in anticipation that the state government could declare a fresh reduction in the duty. Developers are also keen to witness a cut in charges and are ready to give an equal amount of benefit to homebuyers. President-elect of the National Real Estate Development Council (naredco), Rajan Bandelkar, told the media that the government should decrease the stamp duty as this would be a favorable situation for all stakeholders. Naredco members will meet the quantum of stamp duty reduction by the government, thereby giving a benefit to homebuyers. To celebrate International Women’s Day on March 8, the Maharashtra government declared a 1% concession in present stamp duty for women homebuyers for FY 21-22. Knight Frank India, CMD, Shishir Baijal, said that since June 2021, the percentage contribution of women buyers to the total registrations has been constant between 4-5%. While in the first two months, the women buyers number availing for this stamp duty was limited, a moderate uptick since June is being observed. In Mumbai, the female homebuyer's share in new residential sales has been growing, largely on the end of this stamp duty incentive. Through various policies, the central government has also been promoting homeownership by women across the country, for the last several years. Image Source Also read: Maharashtra records 93% property registration revenue hike in July Also read: Mumbai tops residential real estate market recovery in Q1 FY22

Next Story
Infrastructure Urban

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Next Story
Real Estate

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Next Story
Infrastructure Transport

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?