Slowdown? Mumbai earned Rs 242 crore in the month of July from registrations of 21,311 documents. This is the highest revenue the city generated since the nationwide lockdown was imposed.
By Varun Singh
Everyone has been talking abut a slowdown, especially in the real estate industry. However, the city generated a revenue of Rs 242 crore in July via registrations. An overall good indication for the sector.
According to data available from Department of Registration & Stamps a total of 21,311 documents were. registered with the department in the city. Mumbai saw the highest revenue collection since lockdown was imposed due to COVID 19 pandemic.
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The figures of registration shows that the city is slowly getting over the lockdown slumber. There was a serious slowdown visible in the registration figures in the month of April, where only 27 documents were registered. April generated a revenue of Rs 43,547 lowest in the recent history.
In May the figures did go up slightly. With a total of 1,404 documents being registered, the revenue collected was Rs 18.12 crore. The figures in June month stood at Rs 179 crore from registration of 13,652 documents.
Before lockdown, the revenue figures were high. In March, Mumbai generated Rs 377 crore. While for February it stood close to Rs 470 crore.
Of the total Rs 242 crore in July the highest share of Rs 214 crore comes from Conveyance (Sales). Which means, the impact of the slowdown due to the lockdown in the sector is slowly waning as sales are taking place.
On being asked what does the numbers represent, Adv Vinod Sampat says, “Yes builders are making sales. Response is good. But they have been forced to sell flat comparatively cheaper by about 15 to 20% is my apprehension.”
A total of 2,663 Conveyance (Sales) documents were registered in July. While the highest number of documents registered were under Leave and License (e-registration) 12,188. The revenue collected was a mere Rs 1.89 crore.
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