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 Energy

Coal Ministry to Launch RECLAIM Mine Closure Framework

The Ministry of Coal will launch RECLAIM – A Community Engagement and Development Framework on 5 July 2025 to guide mine closure and repurposing efforts across India. Designed as a structured roadmap, RECLAIM aims to embed inclusive community engagement during both closure and post-closure phases of coal mines.According to the Ministry, RECLAIM offers a step-by-step approach for institutionalising local participation, making the transition more equitable and aligned with regional realities. The framework includes field-tested tools, templates, and methodologies specifically tailored to India..

Next Story
Infrastructure Transport

NHAI Suspends Officials Over Pavement Damage on NH-754K in Gujarat

The National Highways Authority of India (NHAI) has taken strict action following reports of distressed pavement conditions on parts of the six-lane Sanchore–Santalpur section of the Amritsar–Jamnagar Economic Corridor (NH-754K) in Gujarat. The affected segment lies within Package-4 (Kilana to Santalpur) and is being constructed by M/s CDS Infra Projects Limited. The damage spans 1.35 km on the left-hand side (LHS) across 10 patches and 1.36 km on the right-hand side (RHS) over 5 patches of the total 130 km corridor in Gujarat.  Causes of failure and current status The ..

Next Story
Real Estate

Real Estate Capital Raises, Deals Triple in FY25: Equirus Capital

Capital raised and the number of deals by real estate companies surged over three-fold in FY25, according to a note released by Equirus Capital. The report reveals that both investor interest and institutional confidence in the real estate sector have grown significantly, with REITs outperforming the Sensex and smallcap realty stocks delivering the strongest long-term performance. The total capital raised rose from Rs 1,09,554 million in FY24 to Rs 3,28,526 million in FY25, representing nearly a three-fold increase. Additionally, the number of deals increased from 5 to 17 over the same pe..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?