In August, Mumbai witnessed a surge in property registrations, marking its best decade for such transactions. Over 10,550 properties were sold in the city, a 23% increase compared to the previous year, and stamp duty collections exceeded Rs 790 crore, reflecting a 22% rise. During the January to August period of 2023, properties valued at Rs 1 crore and above constituted 57% of total registrations.
Residential units made up 80% of the registered properties, with the remaining 20% being non-residential assets. High-value properties, especially those above Rs 2.5 crore, saw increased interest, driven by soaring property prices and the preference for more spacious accommodations. Mumbai's property market remains robust, with a strong focus on luxury and high-end segments.