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Real estate recovery naysayers, there is no other way to break this to all of you.
In October, Mumbai recorded a 10-year best of 8,576 property registrations for the month. Also, in just the first week of November, 1,441 residential properties were registered in the greater Mumbai region.
The Rising Tide
In Mumbai, daily registrations, which were 219 in August, rose to 260 in September, and then climbed to a record 277, per the latest Knight Frank report.
This stellar performance by property transactions is being owed to the receding Covid thingy, all time low interest rates, and various government incentives being dished out to the home buyer.
At this rate, the total number of registrations in Mumbai should touch the 100K mark in November, with three more months to spare in 2021.
Can't Postpone This
The pandemic has increased the demand for housing across the country as people skew towards home ownership like never before.
Also, with health, safety, and the quality of work from home being top considerations, those who are financially capable are not postponing their housing plans anymore.
Self sustained housing societies - those with grocery, essential retail, and medical facilities - are hogging the limelight as home buyers now prefer to step out less.
The Higher View
Experts who have analysed the new launch booking numbers opine that this pace of consumption will continue, or get better through the last remainder of 2021.
Industry veterans feel that there is a sense of optimism after the pandemic, and that will continue to drive housing demand in the near future.