Mumbai Real Estate Boom: A Record Year of Property Registrations

In 2024, Mumbai's municipal area saw an 11% rise in property registrations, achieving a 13-year high with 1,41,202 units. The trend, indicating robust housing demand, resulted in a notable revenue increase. Experts cite Mumbai's real estate market as a key economic driver and investment opportunity.

Mumbai's property market hit a landmark in 2024, with an 11% increase in property registrations, reaching 1,41,202 units, as per Knight Frank India. This marks a 13-year high, fueled by strong housing demand.

According to government data, December alone saw 12,418 registrations, bringing in Rs 1,134 crore in revenue for the state's coffers. Residential properties made up 80% of this figure, compared to 12,285 properties in December 2023.

Experts emphasize evolving preferences for quality homes and note how Mumbai's thriving real estate sector is a cornerstone of economic activity. The success is anticipated to continue, bolstered by infrastructure growth in the Mumbai Metropolitan Region.

(With inputs from agencies.)