Registration of Properties In Mumbai Rises 5% In Nov 2024

03 Dec 2024 CW Team

Property registrations in the Mumbai municipal region witnessed a 5% increase in November 2024, with over 10,200 units registered, reflecting sustained housing demand, according to Knight Frank India. In comparison, 9,736 units were registered in November 2023. In a statement released on Saturday, Knight Frank India reported that Mumbai city, under the jurisdiction of the Brihanmumbai Municipal Corporation (BMC), recorded 10,216 property registrations as of 8 PM that day. The final tally is expected to rise slightly as additional registrations are processed. However, November’s registrations showed a decline from October 2024, when 12,960 units were registered. Knight Frank India CMD Shishir Baijal attributed this sequential dip to market consolidation following a festive-driven surge in October. Baijal highlighted a notable trend within Mumbai’s real estate market, stating, “The increasing demand for premium properties and larger living spaces signifies a decisive shift towards quality, value, and long-term investment in the city’s ever-dynamic real estate landscape.” The data underscores Mumbai's growing appetite for high-value properties, reflecting changing buyer preferences and the evolving dynamics of the city's housing market.

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