Mumbai Real Estate is Booming!

2022 was a phenomenal year for Mumbai Real Estate market. It was the best year in a decade in terms of number of units sold. Some interesting facts:

📢 Total units sold in 2022 were at 𝟭𝟮𝟭,𝟰𝟵𝟲 which was 𝟵% higher than the units sold in 2021, which itself was a bumper year with 𝟭𝟭𝟭,𝟵𝟭𝟭 units sold

📢 The next highest recorded sales in the last decade were in 2018 at 𝟴𝟬,𝟳𝟰𝟲

📢 𝟴𝟲% of the sales in 2022 were of residential units

📢 ₹𝟴,𝟴𝟴𝟳 𝗰𝗿𝗼𝗿𝗲𝘀 revenue was collected by as stamp duty and registration fees in 2022 which is significantly higher than ₹𝟲,𝟭𝟭𝟭 𝗰𝗿𝗼𝗿𝗲𝘀 collected in 2021

While the last 2 years have brought the overdue fillip to the sector, 2023 would be an interesting year to watch out as the sector tackles the headwinds of high interest rates, global slowdown & layoffs, high inflation resulting in high input costs and potential oversupply.

Look forward to the new year for the surprises that it brings with it!