Mumbai December property registrations at 24-month high

MUMBAI: Property sales registrations in Mumbai, the country’s hottest real estate market, rose to a 24-month high in December reflecting the impact of festive season bookings, showed a report from brokerage Prabhudas Lilladher. The registration number rose 42% month-on-month and 5% from a year ago. “Although the festive season was touted to be fairly dull in terms of launches and offtake, the low base of the previous months reflects a surge,” the report said. The sharp jump in sales was largely attributed to suburban Mumbai that witnessed 51% month-on-month growth, while the island city sales declined 1% reflecting the stressed affordability equation in the city. Lease registrations too grew 15%

MUMBAI: Property sales registrations in Mumbai, the country’s hottest real estate market, rose to a 24-month high in December reflecting the impact of festive season bookings, showed a report from brokerage Prabhudas Lilladher. The registration number rose 42% month-on-month and 5% from a year ago. “Although the festive season was touted to be fairly dull in terms of launches and offtake, the low base of the previous months reflects a surge,” the report said. The sharp jump in sales was largely attributed to suburban Mumbai that witnessed 51% month-on-month growth, while the island city sales declined 1% reflecting the stressed affordability equation in the city. Lease registrations too grew 15%

[via India Properties – Real Estate India – Indian Property News Site]

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