Knight Frank India, the leading real estate consultancy in the country, in its latest assessment noted that Mumbai city saw property sale registrations of 15,717 units in March 2022, contributing over INR 1,084 Crores to the state revenues. The number of units registered in March 2022 was the third-best in a decade, while monthly state revenue collections were at a 10-year high. Maximum registrations were in the price band of INR 1-5 Cr while in terms of apartment size, mid-sized homes (ranging between 500-1000 sq ft) were the most preferred category of property registered in March 2022. NEW PROPERTY REGISTRATION VOLUME THIRD-BEST IN 10 YEARS At 15,717 properties, property registrations in March 2022 were the best monthly volumes achieved in the last 12 months. The earlier peaks were achieved in the months of December 2020 and March 2021 with 19,581 and 17,728 units registered respectively, both within the period when stamp duty incentive was applicable. March 2022 was also the third-best performance for the month of March in the last ten years. March 2022 recorded a 51% month-on-month rise in property registrations over February 2022. However, the registrations were lower by 11% on a year-on-year comparison over March 2021.
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