Mumbai: Mumbai is leading the resurrection of property sales in 2021, Thane has a collection of highest stamp duty in the Mumbai Metropolitan region (MMR), while the western edge brings the highest sales value of Rs 49,000 Crore, found industrial studies released on Monday.
Flat registration in Central Mumbai (Parel, Dadar, Prabhadevi, Wadala, Matunga) surged 93% from 2019 and 71% from 2020.
There were 7,337 registration with an average RS 35,000 square feet in the belt.
Of these, the luxury segment has 77% of the shares in sales, the report said ‘MMR Housing Updick assisted by support’ carried out together by Creda-MCHI, Collix and Cree Matrix.
Cap Slash helps sales, but not.
The flats that are not sold in MMR are still HIGHANE (Kalwa, Majiwada, Wagle Estate, Kolshet, Roughvadavli) contributing the highest number of registration with 42% shares in MMR, and the highest stamp duty collection.
There are 1,02,054 property registration at an average price of Rs 10,300 a sq ft.
Clear preferences here are for flats at prices under RS 1 Crore, the report said.
Western suburbs (Andheri, Goregaon, Maldo, Kandivli, Borivli, Dahisar) recorded 37,985 property registration at RS 21,300 a SQ FT.
Sales value around RS 49,000 Crore contributed a quarter of total sales income in MMR.
“Incentives introduced by the Maharashtra government triggered activities in the MMR housing market and helped the market reappear from the environment of the demand moistened because of Covid-19,” the report said.
“There are direct benefits seen at the request of affordable and medium segments, led by incentives.
However, there is still room for some sustainable support for home buyers in an uncertain economic environment.” Cutting stamp duty has a positive impact on home buyers because of Directly reducing financial outgo when buying a house, he added.
For example, home buyers who buy property with RS 70 lakh agreements, paid stamp duty Rs 1.4 lakh between September 1, 2020, and 31 September, 2020, and Rs 2.1 lakh between 1 January 2021, and 31 March 2021, by opposing Hospital 3.5 Lakh without a discount at 5%.
Market conditions have increased, but MMR continues to see unsold inventories.
For perspectives, not sold at the end of December 2021 only 1% lower From 2020.
“Although bursts in sales (measured through property registration) led by cutting stamp duty and other concessions His, unsold inventory is still higher than the higher Pre-Covid level.
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This underlines the importance of sustainable short-term assistance measures that can maintain positive market sentiment, “said the report.
The overall project launch in Mumbai increased by 3% from 2020, but continued to be around 4% lower than the pre-covid level.
‘Central Mumbai Sales was up 93% last year over 2019’
