Lease registration going down in Mumbai: Prabhudas Lilladher
Research firm, Prabhudas Lilladher, has come out with its report on Mumbai real estate. According to the report, sales continue to witness slowdown in Mumbai and dip in commercial real estate has led to sharp decline in lease registrations.
Sales registrations slipped below the 5000 mark for second consecutive month highlighting slackness prior to the festive season. Added to the gradual decline another 2 per cent decline was witnessed in the month of July.
High inflationary pressures and high interest rates seem to have made the situation grim for real estate.
Further, in the commercial real estate front also, sharp decline in lease registrations were noticed. Lease registrations for the month of July were down by 17 per cent on a month on month basis.
To read more real estate news:
Investors turning to suburbs as Mumbai real estate hits slowdown
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