A Festive Surprise for Real Estate Developers

Maharashtra’s real estate regulator, MahaRERA, has made this festive season truly special for the industry. On the auspicious occasion of Dussehra, the authority approved a record 405 new housing projects in a single day, a first in its history.

In addition to new approvals, 200 projects were granted extensions and 195 were allowed corrections in their submitted plans. This takes the total approvals to a massive 809, reflecting MahaRERA’s aggressive push to clear backlogs before the festive period gains momentum.

Pune Surpasses Mumbai in New Project Approvals

Surprisingly, Pune City emerged as the frontrunner in new project registrations with 122 approvals, surpassing the Mumbai Metropolitan Region’s 197 projects, which includes Greater Mumbai.

Here’s the regional breakdown of the 405 newly registered projects:

• Pune City: 122 projects
• Pune Region (Other): 6 (Satara), 4 (Kolhapur), 4 (Sangli), 3 (Solapur)
• MMR Region: 197 total
  • 63 (Mumbai City & Suburbs)
  • 58 (Thane)
  • 41 (Raigad)
  • 22 (Palghar)
  • 9 (Ratnagiri)
  • 4 (Sindhudurg)
• Vidarbha: 31 (including 20 from Nagpur)
• Khandesh: 29 (including 23 from Nashik)
• Marathwada: 9 (including 5 from Chhatrapati Sambhajinagar)

Round-the-Clock Clearance by MahaRERA

To make this record-breaking clearance possible, MahaRERA’s team worked around the clock, ensuring all eligible projects were processed before the festive season.

The approvals were not limited to new registrations alone:

• 405 new projects received registration numbers
• 209 projects received timeline extensions
• 195 projects received approval for corrections

Festive Season = Real Estate Launch Season

In India’s property market, Dussehra and Diwali are considered highly auspicious for launching new projects. Developers often plan their launches around these dates to tap into strong buyer sentiment.

MahaRERA’s timely approvals ensure that developers can launch projects without regulatory delays, while homebuyers benefit from projects that meet legal, technical, and financial compliance.

A Six-Month Snapshot: Nearly 5,000 Projects Cleared

Between April and September 2025, MahaRERA approved 4,940 project proposals:

• 2,039 new housing projects received registration numbers
• 1,748 projects received timeline extensions
• 1,153 projects were approved for corrections

This reflects MahaRERA’s streamlined regulatory push ahead of the festive season — a move that could help revive supply pipelines and give buyers more verified housing options.

Why It Matters

For developers, this wave of approvals means a green light to launch during peak season.
For homebuyers, it means more choices of legally vetted projects hitting the market.
And for the real estate market, it signals regulatory efficiency and momentum at a time when sentiment is typically at its highest.

Also Read: Developer Faces Property Attachment for Ignoring MahaRERA Payment Order

The post 🏗️ MahaRERA Creates Festive Record: 405 New Projects Approved on Dussehra! Pune Tops, Mumbai Follows appeared first on Square Feat India.

Lower Daily Expenses, Higher Savings for Families

The shift of many items to lower 5% and 18% GST slabs means essential products like packaged foods, medicines, stationery, and IT devices will cost less. This directly reduces monthly household expenses, giving families more breathing room to save for bigger investments like property.

Industry voices say this rationalisation will underpin stronger domestic consumption. “The GST cut to 5% or Nil on healthy packaged foods such as paneer, butter, milk, and dry fruits will accelerate consumption in rural and Tier-II markets,” said Aman Choudhary, Executive Director, Anmol Industries Limited.

Boost to Education and Healthcare Affordability

The reforms have exempted school essentials like notebooks, pencils, erasers, and reduced taxes on sports equipment and learning kits. Experts believe this will ease pressure on families with school-going children. Similarly, reducing GST on 33 life-saving medicines and diagnostic kits to 0% will make healthcare more affordable.

“Exempting health insurance in totality is a milestone in public healthcare. Hospitals will now be able to invest more in infrastructure, making cutting-edge care more inclusive,” said Dr. Richa Rai, CEO, Heritage Hospitals.

Relief for Homebuyers: Lower Input Costs in Real Estate

One of the biggest takeaways for the housing market is the reduction of GST on construction materials like electrical goods, transformers, and cables from 18% to 5%. This translates into lower construction costs for developers, which can be passed on to buyers through discounts and festive offers.

“We are optimistic that the recent GST reduction will boost property purchases and overall demand. With the festive season fast approaching, the tax cut has come at an opportune time,” said Vijay Jain, Managing Director, Star Estate.

Combined with stable home loan interest rates and attractive schemes from developers, buyers stand to benefit from both affordability and choice.

Technology, Power, and Renewable Energy to Become Cheaper

The cut from 28% to 18% on IT and consumer electronics will make gadgets, laptops, and digital devices more affordable—important for modern households. For the power and renewable sectors, cheaper solar panels, inverters, and grid equipment mean lower energy costs for homes in the long run.

“Rationalising GST slabs for solar equipment will boost cost competitiveness and accelerate India’s switch to renewable energy,” said Vinod Sharma, Director, Joint Solar.

Why This Matters for Homebuyers

For families planning to purchase homes this festive season, the GST cut is a double advantage:

1. Lower living costs free up more savings.
2. Reduced housing input costs could lead to better deals in the property market.

As industries anticipate stronger demand, experts believe the property market will witness a significant surge in bookings and site visits, making this festive season a golden opportunity for buyers.

Also Read: Cheaper Cement, Stable GST on Homes: What It Means for Homebuyers

The post GST Cuts to Lower Costs for Families, Make Homes More Affordable This Festive Season appeared first on Square Feat India.

The surge in high-value transactions was particularly notable, with properties priced above Rs 2 crore making up 22% of all registrations. This marked an increase from 18% in October 2023, reflecting a shift in buyer preference towards more premium properties. In contrast, the share of registrations for properties priced below Rs 50 lakh decreased significantly from 27% in the same month last year to just 20% in October 2024, indicating a growing trend of mid-to-high-end property investments.

Key Insights from Industry Leaders

Prashant Sharma, President of NAREDCO Maharashtra, attributed the spike in property registrations to the alignment of auspicious festivals like Navratri and Diwali, which traditionally drive property investments in India. The festive period provided an ideal environment for high-value purchases, and this has contributed to the positive sentiment surrounding Mumbai’s real estate market. Sharma expressed confidence that this momentum would continue, further boosting buyer confidence and contributing to economic growth in the state.

Rajeev Ranjan, Co-Founder & CEO of The Mentors Real Estate Advisory Pvt Ltd, highlighted that the seasonal upturn in registrations showcases Mumbai’s strength as a premium investment destination. He emphasized that the surge in registrations is not just a reflection of market activity but also signals a more sophisticated, long-term approach by buyers, who see real estate as a key wealth-building asset.

Anil Mutha, Chief Visionary & Co-Founder of Nandivardhan Group, pointed out that the shift toward higher-value properties is a positive trend, signaling a maturing market where homebuyers are increasingly focused on location, lifestyle, and amenities. The demand for these types of properties is encouraging for developers, as it reflects a transformation in the market toward more aspirational living spaces.

Vedanshu Kedia, Director of Prescon Group, noted that the increased demand for properties priced above Rs 2 crore highlights a shift in buyer preferences toward premium, amenitized living experiences. This trend underscores the growing aspirations of Mumbai’s buyers, who are prioritizing quality, lifestyle, and long-term value in their investments.

Rohan Khatau, Director of CCI Projects, echoed this sentiment, stating that the surge in premium property registrations is driven by economic stability and a growing desire among buyers for aspirational living. The reduction in demand for lower-value properties, he said, points to a broader trend where homebuyers are looking to make long-term investments that improve their quality of life.

Govind Krishnan Muthukumar, Managing Director & Co-founder of Tridhaatu Realty, commented that the continued rise in property registrations, particularly in the high-value segment, signals renewed confidence among homebuyers. This growth reflects strong market fundamentals, and with infrastructure advancements on the horizon, Muthukumar expects this trend to continue, benefiting both developers and consumers alike.

A Resilient Market

October’s property registration numbers underscore the resilience and vitality of Mumbai’s real estate market. The shift towards higher-value properties and the sustained demand for premium housing signal a maturing market, where homebuyers are increasingly prioritizing quality and long-term value. The festive season, marked by Dussehra and Diwali, played a significant role in stimulating market activity, and this positive momentum is expected to continue into the final quarter of 2024.

As the city’s property market evolves, it is clear that Mumbai is maintaining its status as one of India’s most lucrative and resilient real estate markets, catering to a growing base of aspirational buyers looking for more than just a home—but a lifestyle that aligns with their evolving needs and aspirations.

Also Read: Mumbai’s Property Market Shows Resilience with Rising Registration Figures and Revenue

The post Mumbai Property Registrations Surge by 22% in October 2024, Driven by Festive Demand appeared first on Square Feat India.