November 2020 is turning out to be spectacular month for real estate sales in Mumbai as the number of units sold in Mumbai is on track to touch an all-time high seen in almost a decade. According to the figures made available by the Stamp and Registration Department, 7,757 units have already been sold in November 20, 2020 till date. At this pace, the sales figure for the month could surpass 9,000 units, a level not seen in almost a decade.
It would be interesting to see the trends over the next 2 months to ascertain the strength of this recovery as buyers clamor to take advantage of lower stamp duty till December 31, 2020. We do expect numbers to be slightly lower in January 2021 as the pent-up demand tappers out. We would closely watch these numbers for the next 2 months to ascertain the market direction to determine if we are at an inflection point.
Watch this space for more insights on the Mumbai Real Estate market.