Another record year for Mumbai residential market
Over 1.14 lakh property registrations done during the first 11 months of this year (Jan-Nov 2023) – 102% of the property registrations recorded in CY22(2)
Stamp duty revenues in CY23 set to cross INR 10,000 crore for the first time – increased from INR 5,352 crores in 2021 to INR 8,066 crores in 2022 and then to INR 9,922 crore in the first 11 months of this year (Jan-Nov 2023)(2)
Sales and launches in Mumbai were at a historic high, signalling continued momentum in the residential market
Residential sales in 9MCY23 have already reached 91% of CY22 salesDespite new launches, YTS(1) (expected time to liquidate the unsold inventory) has reduced to 2.7 years in Sep 23 from 5.0 years in Sep 21
