In August, Mumbai’s property registration report was at its all-time high. The revenue from the registration is the best revenue in 10 years of property dealing. This indicates factors like improvement in standard of living and positive income and investment levels.
At the end of August 2023, Mumbai reported 10,515 property registrations. The increasing rate is very high this year. 20% growth increase in the year in the property registry and 2% per month-to-month increase.
Maharashtra Inspector General of Registrations and Stamps (IGR) reported this year is the highest in generating revenue and successful deals in property registries in Mumbai. The revenue is over Rs 783 corer in August 2023 declared by the government.
A statement from Knight Frank India, a real estate consultancy firm said,
“August 2023 marked a significant milestone for the city, achieving its most successful August in the past decade in terms of both registration numbers and revenue generated”.
The government body that monetized Maharashtra IGR, revealed that there was a 21% increase in the revenue in property registering in Mumbai in August 2022 and that’s a huge jump. In the 8 months of 2023, Mumbai is able to register a count of 83,263 units of property with a revenue of over Rs 7,242 corer.
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News Source: https://shorturl.at/grXY7
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