Mumbai, 30 June (IANS). 75,982 property has been registered in the first splash (January-June) period of 2025 in Mumbai City (area under BMC). It has recorded an increase of 5 percent on an annual basis. This information was given in a report released on Monday.
The report of Knight Frank India said that revenue from these property registrations increased by 15 percent to Rs 6,727 crore on an annual basis. Also told that both these standards have performed the strongest half -yearly since 2013.
The report said that 11,521 property was registered in Mumbai in June, it saw a decline of 1 percent on an annual basis, while the revenue from these registrations stood at Rs 1,031 crore, which is 2 percent more than the same month compared to last year. More than 80 percent of these registrations were residential.
Shishir Baijal, chairman and managing director of Knight Frank India, said, “Mumbai’s residential market reflects the trust of buyers, as the registration remains above 11,000 continuously. Especially the encouraging is that due to this continuous demand, property registration in the city has been the strongest in more than a decade on a decade basis.”
“We have seen some coldness in the mid-pris segment, but the demand for houses worth more than Rs 5 crore remains strong,” the report said.
In June, there was a distinct change in the buyer activity, with the speed bent towards high value classes. The share of registration of properties worth more than Rs 5 crore increased from 5 percent to 6 percent in June last year.
Apartments up to 1,000 square feet dominated Mumbai’s residential registrations in June, which was 84 percent of all transactions, which is largely stable compared to 83 percent in June 2024.
The 500–1,000 square foot segment was the most popular in this, the stock of which increased from 44 percent to 45 percent.
The stake of units up to 500 square feet remained stable at 39 percent on an annual basis. The large apartment maintained its presence, the stake of units of 1,000–2,000 square feet size remained unchanged at 13 percent and the stake of units above 2,000 square feet remained stable at 3 percent.
-IANS
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