Mumbai: The celebration season that began with Navratri on October 7 has brought an increase in home unit sales in the city, raising government revenue collecting to RS 24 Crore, which was higher by 78% from August and 37% in September.
With optimistic consumer sentiment and support from low interest rates, increasing consumer perceptions of home ownership will get encouragement from the celebration season that leads to Diwali, said a report released by Knight Frank India on Thursday.
Reports by Property Consultants said: “The significant but limited material duty cutting window that ended on March 31, 2021, is a key catalyst for the city housing market.
The closing of the incentive window coincides with the second wave of severe pandemic, which has a negative impact on home buyer’s sentiment Interim.
However, since then the housing market again took momentum.
With the central bank maintaining its attitude at low policy interest rates, and developers offer attractive offers, sales trajectories have increased again with sales in July and August higher than the pre-month -Pandemi in 2018 and 2019.
“The period of the Shradh between September 21 and October 6 also sees a slowdown for decision making for high-value purchases such as real estate.
Developers have now harmonized new launches to benefit from optimistic sentiment, the report said.
Shishir Baijal, Chair & MD, Knight Frank India, said: “After almost half a decade of depression festival season, this year it can break the cycle and become one of the best.
It is very encouraging to see that the average daily home registration has surged in the period Celebration without the support of stamp duty incentives.
It shows that home buyers are in a hurry to take advantage of current market conditions, including low prices, low-decadal house loan interest rates, along with the desire to take advantage of some of the festive offers from developers.
Market estimated Will remain floating for the celebration season.
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‘This year can bring cheerfully to the housing market in Mumbai’
