Mumbai records second-best Diwali period property sale in a decade — What it means for real estate industry

Mumbai Property registration: As the dark clouds of Covid pandemic clear out, many sectors are on the track to recovery and a record registration in properties in Mumbai is a sign that real-estate is bouncing back in the metropolis area.

Real Estate

In October 2022, which was also the month where Diwali was celebrated, there was a marked spike in the number of property registrations in Mumbai.
The city recorded registration of 8,358 units in the month of Diwali and a stamp duty collection of Rs 717 lakh crore.The stamp duty collection figure between January and October increased 53 percent, as compared to 2021.During this period, 1.3 lakh houses were sold and Rs 7,300 lakh crore stamp duty was collected. Diwali 2022 saw an increase in stamp duty collection by 30 per cent, as compared to 2020.Read More