Mumbai Home Sales in September will Surprise You
Mumbai home sales in the month of September will surprise you, we aren’t saying this for garnering eyeballs, but based on raw data available from reliable sources.
By Varun Singh
In September 2021 Mumbai witnessed a huge rise in number of home sales.
Yes, trust us, because this is based on raw data, available not from any agency but from the government itself.
In September 2021, Mumbai sold almost 2k more homes that it sold in September 2020.
Why the September 2021 figures matter because in September 2020, the state government had announced a stamp duty cut because of which several homebuyers had rushed to register the homes.
In September 2020 a total of 5,597 sales was registered in the city.
The number of homes sold in September 2019 which was pre-COVID-19 era, stood at 4,032. In comparison to 2019 and 2020, 2021 saw a huge jump.
In spite of COVID-19 second wave, and a lockdown and with restrictions being lifted gradually, Mumbai was able to sell a huge number of homes.
In September 2021, a total of 7799 homes were sold, generating a total revenue of Rs 528.94 Crore.
This is one of the highest in the last one decade for the month of September.
Meanwhile, up till now, the highest number of home sales witnessed by city was in March, when 17,728 registration took place.
The reason for this huge number was because the stamp duty concession was coming to an end in March.
Apart from this, August saw 6,784 home sales, while the registration figures stood at 9,822 in July.
In June it was 7,856 home sales that the city witnessed as per the registration figures made available from the government’s Department of Registration and Stamps.
According to Anand Gupta, Chairperson, Housing and RERA Committee of Builders Association of India, said, “As economy is opening and things are improving on every economic front. September 2021, saw more sales compared to September 2020, in spite of no stamp duty incentive. It is a true reflection of growing economic activities including real estate.”