Mumbai property market’s record streak continues with best August ever
India's financial capital recorded 11,628 property registrations in the month of August, marking a 7% on-year increase in deals. The robust performance helped the state exchequer collect over Rs 1,061 crore, reflecting a 31% rise in revenue, according to data from the Inspector General of Registration (IGR) and Controller of Stamps, Maharashtra.
The city’s consistent sales momentum has been driven by sustained buyer confidence, surpassing 10,000 units in monthly registrations for the first eight months of 2024. This marks eleven consecutive months of annual growth since August 2023.
“Mumbai’s residential market has maintained strong momentum in 2024, with monthly sales showing consistent on-year growth. August stood out, recording the highest growth in revenues compared to the rest of the year. The strong economic outlook and stable interest rates have kept homebuyer sentiments positive, fueling steady sales,” said Shishir Baijal, CMD, Knight Frank India.
Mumbai has experienced its best eight-month period, with record property registrations and revenue collections from January to August 2024. During this period, the city recorded 96,601 property registrations, up 16% on year, and generated 10% higher revenue at Rs 8,010 crore.
Kangana Ranaut buys office property in Mumbai’s Andheri west
Mumbai’s western suburbs and central suburbs accounted for 83% of the total market share in August and industry experts attributed this to the ongoing infrastructure overhaul.
«Due to the strong demand
