By Varun Singh
In the 30 days of July 2022, Mumbai saw a total of 11,340 units being sold. This number is the highest ever sold in any of the July months since 2012 till now.
A detailed analysis of the sales figures from the department of Inspector General of Registration (IGR), by SquareFeatIndia shows that July 2022 has performed exceptionally well and of all the months in this financial year has also earned the highest revenue for the state government too.
The revenue is via the stamp duty paid by those who register their sale deeds with the department of stamp duty and registration.
Here’s the detailed report, as per the registration figures, Mumbai in the 30 days of July witnessed total sales of 11,340 units generating a revenue of Rs 828.63 crore for the state.
Since April 2022 till now, this is the highest revenue generated by the state government via stamp duty. In the month of April 2022, total units sold stood at 11,743 from which the government generated Rs 738 crore. The sales figure stood at 9,838 in the month of May generating Rs 726 crore.
In June a total of 9,919 sales were registered with the IGR and via this a revenue of Rs 733 crore was generated for the treasury of state government.
The analysis further showed that, since 2012-22 of all the July months, July 2022 not only witnessed the highest number of sales, but also earned the highest revenue for the state government via stamp duty.
In July 2021, Mumbai saw a total registration of 9,822 sale deeds generating Rs 566.79 crore. The number of registration stood at 2,622 in July 2020, generating Rs 214.28 crore, here one should also pay attention to the fact that there was a pandemic in the year 2020 and lockdown like situation still persisted.
In July 2019, a total of 5,748 sale deeds were registered, generating a revenue of Rs 452.06 crore. In July 2018 the figure of sales stood at 6,437, whereas the revenue generated was Rs 443.88 crore. The sales figure stood at 6,095 in July 2017 and revenue was Rs 366 crore.
In July 2016, the sales were 5,725 units, whereas the revenue generated was Rs 341 crore. In July 2015, the sales was 5,832 units whereas the amount collected via stamp duty and registration was Rs 404 crore.
In July 2014, a total of 5,253 units were sold generating a revenue of Rs 315.66 crore. In 2013 the sales figure stood at 5,139 units generating Rs 287 crore. In July 2012 the sales in Mumbai city was 367 units generating a mere Rs 28.56 crore.
Currently in the city of Mumbai the stamp duty payable while registering the sales is six per cent, whereas there’s a 1% discount when a woman is involved in the deal.
Adv Vinod Sampat and expert on realty matters with a focus on stamp duty says, “Post COVID most homebuyers are looking for larger homes, an extra room especially as Work From Home has become the norm.”
He further claimed that rise in raw material prices and other aspects are also playing a role in the move why more homes are being sold. Another industry expert added, “The reason also could be that there is a fear in future prices may go up as the rates of raw materials are increasing and this will make homes costly.”
Year Sales Revenue
July 2022 11,340 units Rs 828.63 Cr
July 2021 9,822 units Rs 566.79 Cr
July 2020 2,622 units Rs 214.28 Cr
July 2019 5,748 units Rs 452.06 Cr
July 2018 6,437 units Rs 443.88 Cr
July 2017 6,095 units Rs 366.52 Cr
July 2016 5,725 units Rs 341 Cr
July 2015 5,832 units Rs 404 Cr
July 2014 5,253 units Rs 315.66 Cr
July 2013 5,139 units Rs 287.24 Cr
July 2012 367 units Rs 28.56 Cr
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