Mumbai property sale registrations increases by just 0.06% in Feb
The data collected by the Director General of Registrations, Mumbai concluded that the registration of property sales in Mumbai is increased by 0.06 percent in February 2014.
On the basic of per month data, the registration of properties have decreased by 11.4 percent in February but the numbers are strong in comparison with the 2012 and 2011. There is a little increase in the purchase of property in Mumbai in the last two months because the registration of property has increased. The tally of January was 5,483 which were higher as compared to the tally of January of 2012 and 2011. Taking the complete statics of 2013, the property sales registration was up 3.5% to 64,087 on a year-on-year basis. The developers are saying that the registration of property is good because there is no major decrease in the figures. While in December 2013, 6.196 property registrations were made, which is the highest as compared with the period of last 3 years. The registration number of December is higher as the customers are rushing to register their property before the ready reckoner (RR) rates are revised on January 1 every year, and also pending registrations are done by customers.
While in 2013, increase in the price by real estate developers and so many new launches are also responsible for higher registration. The prices of the property in Mumbai have increased while the capital prices of Mumbai region have constant in the past year all this data is suggested by the analysis by a property portal.
As per the report, In Mumbai, the cost of per square foot of residential property has remained constant in three months from October to December 2013 as compared to July to September 2013.
The famous localities of Mumbai like Worli, Breach Candy, and Mahim (West) have witnessed an increase of only 2 percent during this period. The investment policies towards the real estate sector are improved in the last 1 year.
A report says that the Private equity (PE) investments in Indian real estate have increased 13% in 2013 with the total investment of R7,000 crore as compared to Rs 6,200 crore in 2012.
Source: The Financial Express
Breach Candy, capital prices, Indian real estate, Mahim, Mumbai, mumbai property registrations, Mumbai property sale, Mumbai property sale registrations, Mumbai property sale registrations increases, PE, Private Equity, Property sales, Property sales registrations, ready reckoner, Real Estate Developers, registration of property mumbai, RR, Worli
