Mumbai's real estate market saw a remarkable upswing in 2023 with 127,139 property registrations, marking an 11-year high. The surge, driven by rising incomes and positive homeownership sentiment, contributed to a 22% YoY growth in stamp duty collections, reaching INR 10,889 Crores.
December 2023 alone recorded 12,487 registrations, contributing INR 952 Crores. The market's resilience is evident in a 57% increase in high-value property registrations, showcasing strong buyer confidence and a preference for larger homes.
Residential units constituted 80% of registrations, indicating sustained demand and optimism.