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propnewstime.com-Mumbai's real estate market shines with over 141,000 property registrations in 2024

In December, property registrations within Mumbai's city limits experienced a slight increase, reaching 12,415 units, up from 12,285 in the same month the previous year. This uptick can be attributed to stronger housing demand, according to Knight Frank India. Residential properties made up a significant 80% of the total registrations for the month of December. Looking at the bigger picture, property registrations in Mumbai for the entire year of 2024 surpassed 141,000 units, compared to just under 127,000 in 2023. This rise in the number of property registrations reflects a consistent demand for real estate in Mumbai, building on a positive trend observed in recent years.

 

Mr. Prashant Sharma, President of NAREDCO Maharashtra, remarked that the growth in property registrations underscores the robust demand within the city's real estate sector. He pointed to the rise in stamp duty collections as evidence of buyer confidence and a preference for premium properties. According to him, Mumbai's ability to attract both end-users and investors reaffirms its position as a dynamic and lucrative real estate hub.

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