Mumbai realty market is doing exceptionally well, if one compares the figures of realty sales in May month with the 21 days of December, May fails miserably.
By Varun Singh
How can one gauge how the realty industry of Mumbai is doing? Obviously by analysing the home sale figures.
And the number of sales that Mumbai city witnessed in just 21 days of December it surpassed the figures that of an entire month, which is May.
Yes, the number of realty sales in November was less than that of October, and many started writing down the realty market or Mumbai. However, even then it was on par with many other months of this financial year.
Before we talk about the sales in the 21 days of December, let’s have a sneak peek at the sales and revenue collected in the months of this financial year.
In November month that total sales registered with the registration department stood at 7,582 generating a revenue or ₹549 crore.
In October Mumbai witnessed a sales of 8,576 units, generating ₹550 crore.
Where as in September the number of sales in Mumbai was 7,804 units which generated ₹529 crore.
In August sales stood at 6,784 unit and revenue generated was ₹420 crore.
In July ₹566 crore was generated with registration of 9,822 units.
In June it was 7,856 units that was registered and revenue generated was ₹420 crore.
In May the number was the lowest up till now, it stood at 5,360 units generating a revenue of ₹268 crore.
April saw the highest number of sales this financial year up till now the figure stood at 10,135 units being registered generating a revenue of ₹514 crore.
In May only 5,360 units were registered whereas in the 21 days of December till late evening 6124 units were registered in Mumbai.
In these 21 days Mumbai generated a revenue of ₹488 crore, which is higher than the revenue collected in May, as well as than June and August.
Shravan Hardikar, the Inspector General of Registration had told this journalist that in December he was expecting a good result too.
Even though there was a lot of hullabaloo about November not doing as good as October, if one check the average it has performed well.
While July generated the highest in terms of revenue, ₹566 crore, October generated ₹550 crore and November’s revenue is pretty close with ₹549 crore via sale registration, December is expected to surpass both October and November revenue figures.
Sales haven’t dipped, in October there were many registration also because of the festive season, where many homebuyers rushed to cash in on the discounts too and the pent up demand was also huge.
In April, till July there were many registrations of which stamp duty was paid before March 31, as the government had provided a discount and allowed homebuyers to register the sale within 4 months.
However, in many months of this financial year too, Mumbai city has surpassed the figures of the pre pandemic days.
So realty isn’t doing bad instead it’s in good shape and we are saying this based on the data. Also when there’s no stamp duty discount and yet the market is performing well.
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