July 2021 breaks 10-year Record in Realty Sales
July 2021 has created a record, of all the July months since 2012 till now, July 2021 has registered the highest sales. Still, two days to go, but July 2021 has crossed even the June 2021 sales figure.
By Varun Singh
What makes the real estate industry happy? Obviously good sales, and July 2021, has managed to retain the smiles that June 2021 had awarded to the industry.
Still, two days are left for this month to end, but the sales figure till July 29, 2021, has surpassed the figures of June 2021.
Not only this if one looks at the sales figure of July months since 2012, then it would be clear that July 2021, has broken all records.
That leaves us with a question on what is the sales figure for this month till July 29, 2021. But before that let me tell you, how many sales took place in June 2021.
In the last month, a total of 7856 units were registered with the Department of Registrations and Stamps. The sales figure for the month of July 2020 stood at a mere 2662 units.
July 2020 was marred with the pandemic, the COVID-19 led lockdown had caused major stress on every industry and real estate was no exception.
July 2021 figures are in stark contradiction to the last year’s figures. In the 29 days of July 2021, 8939 units were registered in Mumbai.
While the sales figures are a good indication of a healthy real estate market, one should also not forget that there are many carry forward from the month of March.
The state government had granted a period of four months to people to register their agreement provided they made the stamp duty payment till March 31, 2021.
The real figures of sales shall be visible from next month, where almost every registration would be of those documents of which stamp duty is paid at the prevalent rates.
The August figures will tell us, whether the smile remains or fades away when reality will meet realty.
Meanwhile, not taking away the charm of July 2021 and its achievement here’s statistics collated by SquareFeatIndia for the month of July from 2012 till 2021 to make you understand how this month has set a record.
-July 2021 (up to July 29): 8939
-July 2020: 2662
-July 2019: 5748
-July 2018: 6437
-July 2017: 6095
-July 2016: 5725
-July 2015: 5832
-July 2014: 5253
-July 2013: 5139
-July 2012: 367
-June 2021: 7856
The major factor that benefited the real estate industry in Mumbai was the stamp duty concession by the government. A lot of registrations took place during the period of September 2020 to March 2021.
The second wave hit the registrations, and sales but with the deathly wave subsiding people came out and the registrations figures caught momentum and were visible in the figures of June and now that of July.