New Delhi: Knight Frank reported a 14 per cent decrease in property registrations in the Mumbai municipal area in September, with over 9,100 units registered due to reduced demand. A total of 10,694 units were enrolled during the same period last year. In August of this year, there were 11,631 units registered for properties.
Knight Frank stated that the decrease in home registrations in September 2024 was mainly due to the 12 inauspicious days of 'Shraadh', when people typically avoid making big purchases or high-value transactions. During the period of 29 September to 14 October in 2023, Shraadh was observed.
Knight Frank has gathered information on property registration from the Maharashtra government's Department of Registrations and Stamps. The data consists of sales in primary (fresh) and secondary (re-sale) markets.
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