The Mumbai municipal region saw a significant boost in property registrations this May, recording a 22% increase compared to the same period last year. According to real estate consultant Knight Frank India, around 12,000 units were registered, up from 9,823 units in May 2023, reflecting a robust demand for housing in the area.

Data from the Maharashtra government revealed that this surge in property registrations also brought substantial revenue to the state exchequer, which collected Rs 1,034 crore in May 2024. This marks a 24% increase from the same month last year.

Knight Frank India’s analysis underscores the strong housing demand driving the real estate market in Mumbai, particularly within the areas under the Brihanmumbai Municipal Corporation (BMC) jurisdiction. This upward trend in property transactions is a positive indicator for the region’s real estate sector.