Mumbai residential property registrations hits lowest in 5 years

Q: Hey did you notice that Mumbai's property registration slumped to low % in last 5 years.

Rakshit, Mumbai

14th February 2014

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Replies (4)

Immediately after hammering the five-year lower levels throughout Nov, Mumbai's property revenue sign up quantities rebounded throughout November 2013, demonstrating the renewed desire for the particular financial capital's property marketplace from potential buyers

Maya Roa, Apartment Resident, Chandigarh

25th February 2014

Comment

Hi,
But I heard it that although Mumbai city and suburbs continue to see weak launches and volumes on account of elevated prices, Mumbai’s extended suburbs which includes Thane and beyond region continue to see strong sales off-take.”

Deepankar Godbole, Mumbai

14th February 2014

Comment

Hi Lalit,
But since November and December are the most active months for real estate transactions in the city because the government introduces the new ready reckoner rate from January and people tend to close transactions during this period. If we go by the data then it’s a clear sign that the market is hitting a rock bottom and prices need to correct by another 10 per cent or so.”

Sankalp, Mumbai

14th February 2014

Comment

Hi Sankalp,
Though numbers tend to show a gory picture of the business situation for developers, realtors are keeping a straight face and indicate that sales for their projects have been good or phenomenal. Most developers indicate that they have been recording strong sales in the suburban areas of Mumbai.

Shantanu Kumar, Mumbai

14th February 2014

Hi,
Yeah in fact for a city like Mumbai which is always on a move to get a shocking news stating that property prices have plunged to lowest in last 5 years. It seems that there was a decline of 22% during Nov 2013.

Bikram, Mumbai

14th February 2014

Comment

Hello,
According to recent report, it is the first time since the August 2008-April 2009 period that the monthly residential property registrations has dropped below 4,000 units mark, reflecting the pain in the Mumbai property market.

Lalit Verma, Mumbai

14th February 2014