Festive Boost: Mumbai's Property Registrations Surge 29% in October

This October, property registrations in Mumbai soared to 12,513 units thanks to the Dussehra and Diwali festivals. Anarock reports this marks a 29% increase over last year's figures for the period. Anuj Puri attributes the surge to the festive season, with both festivals aligning in the same month.

This October has seen a notable uptick in property registrations in Mumbai, crossing 12,500 units, as reported by real estate consultant Anarock. The figure, recorded till the 30th of the month, marks a significant 29 percent increase from the previous year.

Anuj Puri, Chairman of Anarock, highlighted the contribution of the Dussehra and Diwali festivals occurring in the same month as a key driver of the trend. 'Both these festivals are traditionally seen as auspicious times for property purchases,' Puri noted.

This year's alignment of both festivals in October has encouraged many buyers to make their moves, resulting in an unusual surge in sales activity in what is typically a tepid third quarter for Mumbai's real estate market.

(With inputs from agencies.)