Year-on-Year Performance

In December 2023, Mumbai saw 12,285 property registrations and a revenue generation of ₹933 crore. The figures for December 2024 reflect a modest increase of 0.4% in the number of property registrations, and a 20.8% rise in the revenue generated, which increased by ₹194 crore.

When compared to December 2022, when 9,367 property registrations were recorded and ₹835 crore was generated in revenue, the growth is even more remarkable. The number of registrations increased by 31.8%, while revenue saw a substantial increase of 34.9%. This indicates a significant recovery and growth in Mumbai’s property market over the last two years.

A Strong Recovery Since 2020

December 2020, which was significantly impacted by the COVID-19 pandemic, saw a higher volume of property transactions. That month, Mumbai recorded 19,581 property registrations, generating ₹680 crore in revenue. While the number of registrations in December 2024 is lower than 2020 by 37.2%, revenue has still seen a significant increase, reflecting higher property prices and stamp duty collections in recent years.

Factors Driving Growth

The rise in property registrations and revenue can be attributed to several factors, including increased demand for residential properties, especially in premium and mid-segment categories, and an overall positive market sentiment. Additionally, the consistent rise in property prices across Mumbai, combined with a stable economic environment, has bolstered the city’s real estate market performance.

Industry experts believe that this growth is indicative of Mumbai’s resilience, with a steady recovery from pandemic-induced slowdowns and strong market fundamentals propelling future growth.

Looking Ahead

As the Mumbai property market continues to recover and thrive, the outlook for 2025 remains positive. With growing buyer confidence and strong demand, both property registrations and stamp duty revenue are expected to rise further in the upcoming months.

Also Read: MMR Real Estate Witnesses 38% Surge in Property Registration

The post Mumbai Property Market Sees Growth in December 2024, With Higher Registrations and Revenue appeared first on Square Feat India.

The last time, Rs 1k crore revenue via stamp duty was generated was the month of March 2022, where 17,726 home sales were registered generating a revenue of Rs 1.1k crore.

In February 2023 the number of home sales till noon of February 28, crossed the 9,333 mark, which is more than the home sale registrations in the 31 days of January.

Lets have a look at the number of home sale registration in the months of Financial year 2022-23.

A total of 9,001 home sale registrations took place in January, and Rs 691 crore stamp duty revenue was generated.

In December total registrations was at 9,367, whereas the revenue generated was Rs 835 crore.

In November 8,965 home sale registrations took place, generating a revenue of Rs 683 crore.

October saw 8,421 registrations generating a revenue of Rs 723 crore.

September witnessed 8,628 registrations generating Rs 734 crore as revenue from stamp duty.

August saw 8,552 registrations, revenue generated was Rs 643 crore.

July saw 11,340 registrations, revenue generated was Rs 828 crore.

June saw 9,919 registrations, revenue generated was Rs 728 crore.

May saw 9,838 registrations, revenue generated was Rs 726 crore.

April saw 11,743 registrations, revenue generated was Rs 737 crore.

In February 2022, 10,379 registrations took place, and revenue generated from stamp duty was Rs 614 crore

Thus in the entire financial year of the 2022-23 February became the first month that managed to breach the Rs 1k crore collection.

It should be noted that it was in February when D Mart owner Radhakishan Damani, his immediate family and close associates purchased 28 units in a bulk deal at discounted rates in Oberoi Realty’s luxury project Three Sixty West at Worli for a total of Rs 1,238 crore

Also Read: Only Rs 1k stamp duty for EWS and LIG homes under PMAY

The post Mumbai generates Rs 1k Crore Stamp Duty in Feb, a first in FY 22-23 appeared first on Square Feat India.