By Varun Singh

Mumbai has managed to sell more than 3.7k homes in the first 10 days of the first month of the financial year 2022-23.

This is against all the predictions that starting from April there may be a dip in home sales. Because going by this average the figure by the end of the month would be close to 10k sales.

April month has seen a hike in stamp duty charges, the ready reckoner rates in most part of the state has gone up. There was a fear that this will impact the home sales.

However, data collected from the Department of Stamps and Registration office show that in April 2022, in the first 10 days, a total of 3779 sales were registered generating a revenue of ₹236 crore for the state government.

This is almost on the lines of what the best home sales month in the financial year of 2021-22 saw.

Lets have a look at the last year’s figures of all the 12 months. Let’s start with April 2021, in the first month of FY-2021-22 a total of 10,135 sales were registered generating ₹514 crore.

In May the impact of COVID 19 second wave was clearly visible where only 5,360 sales were registered generating only ₹268 crore.

June month saw a total of 7,856 home sales registration with a revenue generation for the stamp duty office worth ₹420 crore.

July was better, where 9,822 sales got registered the revenue generated was ₹566 crore.

August, September, and October saw 6,784, 7,804, and 8,576 sale registration while revenue generated was ₹420 crore, ₹529 crore, ₹550 crore respectively.

November saw a dip compared to October where 7,582 sales were registered in the month generating a revenue of ₹549 crore.

December month generated a revenue of ₹758 crore via 9,681 sales.

January saw 8,155 sales generating a revenue of ₹478 crore.

February till date has performed the best when it comes to sales registration in the entire FY 21-22. A total of 10,379 sales were registered in February generating a revenue of ₹614 crore.

By the end of the financial year that is March, Mumbai witnessed over 16,726 which generated over ₹1,160 crore.

This is the highest revenue generated in the entire financial year 2021-22.

Going by this logic, it is expected that April 2022, will be close to the figures that of February, which actually performed pretty well.

Also Read: Will Real Estate continue to offer a profitable Return on Investment

The post Against all predictions in 10 days of April Mumbai sells 3.7K Homes appeared first on Square Feat India.