Mumbai's Real Estate Market Surges with High Registrations in March

Property registrations in Mumbai's municipal area increased by 9.5% in March, reaching 15,482 units due to strong housing demand. The Maharashtra government earned nearly Rs 1,600 crore in revenue from high-value transactions. Increased buyer confidence and ongoing infrastructure developments contribute to market growth, particularly in premium segments.

In a significant development for Mumbai's real estate sector, property registrations in the municipal area surged by 9.5% in March. This amounted to a total of 15,482 units, driven by a rising demand for housing, as reported by real estate consultant Knight Frank.

The Maharashtra government's earnings from these high-value transactions hit nearly Rs 1,600 crore, marking an all-time high. The rise in property registrations underscores strong buyer confidence amidst stable economic conditions and substantial infrastructure development.

Experts like Shishir Baijal of Knight Frank and Akhil Saraf of Reloy attribute this growth to robust demand in premium housing and potential future interest rate cuts that may further stimulate the sector. The luxury segment continues to flourish, with reputable developers seeing rapid sales of properties equipped with desirable amenities.

(With inputs from agencies.)