Mumbai Real Estate Hit by 14% Registration Drop in October

Mumbai’s real estate market faced a setback in October as property registrations dropped by 14%, totaling 11,200 compared to 13,000 during the same month last year. This slowdown reflects growing caution among homebuyers amid rising costs and global uncertainties.

Financial Impact

The decline has also impacted government revenues, with stamp duty collections falling 17% to ₹201 crore, down from ₹242 crore in October 2022. This downturn signals a cooling phase in an otherwise resilient property market.

Factors Behind the Dip

• Escalating property prices across key localities.
• Higher home loan interest rates affecting affordability.
• Global economic headwinds dampening investor sentiment.

Despite recent government efforts to improve affordability, buyers remain cautious, preferring to wait for more stability before making large commitments. Developers are also adopting a more measured approach in anticipation of future policy adjustments.

Market Outlook

Industry experts suggest that recovery will depend on supportive monetary policies, moderated pricing, and sustained demand from end-users. As the festive season and new launches approach, stakeholders remain hopeful that Mumbai’s housing demand will regain momentum in the months ahead.

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