Mumbai Property Registrations See 14% Decline in September

Property registrations in Mumbai fell by 14% in September compared to the same period last year, as reported by Knight Frank. The decline is attributed to the inauspicious 'Shraadh' days, which affected buying behavior. The data was compiled from the Maharashtra government's Department of Registrations and Stamps.

Property registrations in Mumbai municipal areas fell by 14% year-on-year this September, recording just over 9,100 units, according to Knight Frank.

Registrations in the same month last year stood at 10,694 units, while August 2024 saw 11,631 units registered.

Knight Frank attributed the decline primarily to the 12 inauspicious 'Shraadh' days in September, traditionally a period when significant purchases are avoided.

In 2023, 'Shraadh' was observed from 29 September to 14 October.

The data, encompassing both primary and secondary property sales, was compiled from the Maharashtra government's Department of Registrations and Stamps.

(With inputs from agencies.)