Central Mumbailed the revival in property sales in 2021, Thane had the highest stamp duty collection in the Mumbai Metropolitan Region (MMR) , while the western suburbs brought in the highest sales value of Rs 49,000 crore, found an study released.
Flat registrations in central Mumbai (Parel, Dadar, Prabhadevi, Wadala,Matunga) jumped 93% from 2019 and 71% from 2020. There were 7,337 registrations at an Average Rs 35,000 a square foot in the belt. Of these, the luxury segment had a 77% share in sales, said the report MMR Housing Uptick Aided By Support conducted jointly by CREDAI-MCHI, Colliers and CRE Matrix.
Thane (Kalwa, Majiwada, Wagle Estate, Kolshet, Kasarvadavli) accounted for the highest number of registrations with a 42% share in MMR, and the highest stamp duty collection. There were 1,02,054 property registrations at an average price of Rs 10,300 a sq ft. The clear preference here was for flats priced below Rs 1 crore, said the report.
The western suburbs (Andheri, Goregaon, Malad, Kandivli, Borivli, Dahisar) recorded 37,985 property registrations at Rs 21,300 a sq ft. The sales value of about Rs 49,000 crore accounted for one-fourth of the total sales revenue in MMR.