Mumbai real estate: Property booking raises over 3% year-on- year in December 2023
The real estate market in Mumbai accounted for 9,260 property bookings done in December, as per the records from the Maharashtra Inspector General of Registrations and Stamps duty record (IGR), around 11 am on December 31. Maharashtra also listed Rs 687 crore in yearly income from property bookings during this period.
Later on in December 2022, the count of bookings for the same stood by 8,875. Earnings gathered, which, viewed a minor 1 percent downturn from Rs 765 crore in December 2022 to Rs 768 crore in 2023, as per the Maharashtra state government records.
Where in December complete booked properties and housing units account for 80 percent, moving by from Knight Frank India. As per the real estate advisory, this month accounted for 9,000 more property bookings done in fewer working days due to plenty of holidays occurring in this month due to the festival season.
In December 2023, the real estate market in Mumbai is placed to reach its most fortune December in the last 11 years of record for property bookings, specifying the encountering health of the housing real estate segments. This height is carried out by part such as raising the income levels and a positive output on home holders, mirroring the resolution believe of property buyers in the Mumbai real estate market,” Knight Frank India added in its report.
Where are people buying?
Overall the sum of the count of properties booked, the Mumbai central and western suburbs line was allover composed over 74 percent as these places are a seedbed for the latest estimation that provided a huge range of trendy amenities and good linkage, as per the Knight Frank India report.
Eighty-seven percent of western suburb line segments purchased and 87 percent of central suburb line buyers are opting to purchase under the micro market they were earlier staying in. This option was determined by the ease of the location, adding up with its accessibility of products that line up with their rates and infrastructure predilection, the report included.
