In the first 10 days of the financial year 22-23 Mumbai sold over 3.7k homes. If this continues then April may see a good home sales figure unlike predictions.
By Varun Singh
Mumbai has managed to sell more than 3.7k homes in the first 10 days of the first month of the financial year 2022-23.
This is against all the predictions that starting from April there may be a dip in home sales. Because going by this average the figure by the end of the month would be close to 10k sales.
April month has seen a hike in stamp duty charges, the ready reckoner rates in most part of the state has gone up. There was a fear that this will impact the home sales.
However, data collected from the Department of Stamps and Registration office show that in April 2022, in the first 10 days, a total of 3779 sales were registered generating a revenue of ₹236 crore for the state government.
This is almost on the lines of what the best home sales month in the financial year of 2021-22 saw.
Lets have a look at the last year’s figures of all the 12 months. Let’s start with April 2021, in the first month of FY-2021-22 a total of 10,135 sales were registered generating ₹514 crore.
In May the impact of COVID 19 second wave was clearly visible where only 5,360 sales were registered generating only ₹268 crore.
June month saw a total of 7,856 home sales registration with a revenue generation for the stamp duty office worth ₹420 crore.
July was better, where 9,822 sales got registered the revenue generated was ₹566 crore.
August, September, and October saw 6,784, 7,804, and 8,576 sale registration while revenue generated was ₹420 crore, ₹529 crore, ₹550 crore respectively.
November saw a dip compared to October where 7,582 sales were registered in the month generating a revenue of ₹549 crore.
December month generated a revenue of ₹758 crore via 9,681 sales.
January saw 8,155 sales generating a revenue of ₹478 crore.
February till date has performed the best when it comes to sales registration in the entire FY 21-22. A total of 10,379 sales were registered in February generating a revenue of ₹614 crore.
By the end of the financial year that is March, Mumbai witnessed over 16,726 which generated over ₹1,160 crore.
This is the highest revenue generated in the entire financial year 2021-22.
Going by this logic, it is expected that April 2022, will be close to the figures that of February, which actually performed pretty well.
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