More homes are sold in Mumbai in the first 20 days of September compared to 31 days of August, stated a report by Squarefeat India.
As per the registration department figures, in the month of August, the sales registered with the department of registration in Mumbai stood at 2,642 units. Meanwhile, for the first 20 days of September the number of sales registered with the department stood at 2,717 units.
Experts say the September figure would have crossed the August mark even before the 20 days. This is mainly because Pitra Paksha began on September 2 and lasted till September 17.
In August, the registration revenue from 2,642 sales stood at Rs 176 crore, while till now in September the revenue collected stood at Rs 95.47 crore from registration of 2,717 sale documents. Due to reduction in stamp duty, the revenue collection is less in September compared to August.
Adding to it, Rajiv Jain of Ruchika Shelter, on Friday, there was a huge rush at the registration offices in the city and state. This can be attributed to the end of Shradh and also the state government reducing stamp duty to 2 per cent.
With the festive season approaching, experts hope the sales continue to rise.
In July 2,663 sales took place in Mumbai, this gave the registration department Rs 214 crore. Rs 153.20 crore was generated by registration of 1,839 sale documents in June.
