March saw the highest property registration ever in Mumbai, before the rise in the account rates from April 2025

Mumbai (Maharashtra) [India]April 2 (Ani): Mumbai real estate market had a significant increase in housing registrations in March 2025, with the number of unit registrations a year-on-year (yoy) by 10 percent higher to 15.501 units. The total value of registered properties also placed 42 percent, up to £ 265bn. According to a research report from Nuvama, higher registrations were made because the account rates by 3.4 percent in Mumbai and 3.9 percent for Maharashtra will rise from this month (April 2025). This growth is attributed to prior purchases by consumers before the expected increase in the rates ready to take effect from the current month (April 2025). According to the report, about 80 percent of registrations were during the month of residential properties. Registrations of units under 500 SFT fell by 38 percent in March from 48 percent (Yoy), while units rose between 500-1000 SFT to 48 percent from 43 percent (yoy). Units of more than 1000 SFT rose to 14 percent from 9 percent in March 2024. The report emphasized that the overall market performance in FY25 was extraordinary, with registrations reaching a peak. The number of units registered increased by 9 percent annually, while the value has a 22 percent increase, with a total of £ 2.2 trillion. In Maharashtra, the increase was even more outspoken, with March registrations climbing 11 percent year and 30 percent month to month (MOM) to 185,071 units. An increase in average ticket size, with 29 percent year to £ 17.1m, also reflects a shift in buyer behavior, with higher units, dominating the market. Remarkable is that properties of more than £ 20m had a share in 19 percent in registrations, from 16 percent a year ago. Suburbs in Central and West Mumbai dominated sales, which make up 78 percent of total registrations, with central suburbs having an increase in their market share. The driving capacity of the market was further powered by a robust launch pipeline and a reduction in mortgage rates, indicating a healthy prospect for the city’s housing sector. Organized developers, including major players such as Lodha, Oberoi, Godrej Properties, Sunteck and Rustomjee, are expected to benefit from this trend, the report added. (ANI) Ask all the business news, economy news, news events and online updates on live mint. Download Themint News -APP to get daily market updates. Business NewseconomyMarch saw the highest property registration ever in Mumbai, before the rise in the rates of the account from April 2025 less