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7,500 property deals registered in Mumbai in September 2021; increase almost 11% compared to August 2021

As far as stamp duty is concerned, around Rs 515 crore has been the collection until September 29, 2021.

More than 7,500 property deals were registered in Mumbai in September 2021 (as of September 29) which is an almost 11 percent increase month-on-month (MoM) compared to August 2021, according to data from the Inspector General of Registration (IGR), Maharashtra, available until September 29.

The registration number is up by 87 percent compared to September 2019 when 4,032 units were registered pre-pandemic and 35 percent higher than September 2020 when 5,597 units were registered soon after the stamp duty cut was announced by the Maharashtra government on August 26, 2020, analysis by Propstack showed.

The number of registrations in August 2021 was 6,784 which was an almost a 157 percent increase compared to August 2020 when the units registered were at 2,642. Registrations were higher than last year because of a low base. The number of registrations was at 5,873 in August 2019, analysis by Propstack showed.

In the month of July 2021, as many as 9,823 units were registered. The maximum number of units, as many as 17,728, were registered in the month of March 2021, the last month to avail of the Maharashtra government’s stamp duty cut benefit.