Mumbai real estate views 21% YoY hike in booking; 500-1,000 sq ft properties handle
The real estate market in Mumbai detailed 10,978 housing bookings in January 2024- 21 count greater than 9,450 property bookings in January 2023. On the period basis, there observed a 15 percent downturn 12,500 properties were booked in December 2023, as per the report of the Maharashtra government officials.
As per to the yearly income from stamp duty Rs 749 crore was added in January 2024, seven percent greater than Rs 701 crore in January 2023. Of the allover booked properties, the real estate units add up more than 81 percent and the else over 19 percent add up from non-housing properties.

The current move of raise might be significant to increase the income scale and a praising discernment on the home holder. Simultaneously, the city also reported a good mark in the January tally in the phase of yearly income gathered in the count of 12 years, firstly driven by huge rates in stamp duty, expanding property costs, and an extended share of luxurious properties,” Knight Frank India, a real estate advisory added.
Contrarily the share of flats in the level of from 500-1,000 sq ft are observed to be in the stage of cut-off, lessening to 42 percent from 49 percent recorded in the same period past year. Even so, this seems to be an outlaying phenomenon, as the principal tendency of people has currently been to the bigger apartments, Knight Frank India added in the report.
The market of Mumbai housing observed abnormal activities as it pushed off 2024 with notable eagerness. The scaling up move is placed to be on the line, especially with the looking up healthy economic driving power and prospective relieve of interest rates all over the year, monitoring a productive of infrastructure for house purchasers,” added Shishir Baijal, Chairman and Managing Director, Knight Frank India.