HomeNewsMumbai sees spurt in property registration during Navratri festival

Mumbai sees spurt in property registration during Navratri festival

According to Knight Frank. Property consultant, the registration of housing properties in Mumbai’s municipal region increased during October 7-13, the first seven days of Navratri festival, at nearly 2,500 units.

Knight Frank India said that Mumbai city (MCGM region) recorded property registrations of 2,494 units or daily 356 units during the first 7 days of the auspicious Navratri festival. The daily registrations rate in previous months of August and September was 219 units and 260 units, respectively, it added.

Latest figures indicate that home buyers are in a rush to take advantage of the current market conditions including low prices, decadal low home loan interest rate along with the desire to take advantage of some festive offers from developers.

In Mumbai’s primary housing market, Macrotech Developers (Lodha group), Godrej Properties, Oberoi Realty, Hiranandani group, Kalpataru Ltd, Tata Housing, Shapoorji Pallonji, Piramal Realty, Mahindra Lifespace Developers, Rustomjee group and K Raheja group are major players.

Recently, industry body Credai MCHI in association with data analytics firm CRE Matrix released a report titled ‘MMR Housing Report 2021’ and highlighted that the current calendar year could be the best in the last five years.

According to the report, housing sales in the MMR stood at 1,71,165 units, valuing Rs 1,33,015 crore till the month of August this calendar year. Housing sales stood at 64,101 units, valuing Rs 41,353 crore during January-August last year.

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