Mumbai’s real estate market demonstrated significant growth and resilience during the Diwali season of 2024, with property registrations rising by 21% compared to 2023. October recorded 11,861 property registrations, generating ₹1,081 crore in revenue, a 52% increase from the previous year. The festive period's auspicious nature, combined with the convergence of Dussehra and Diwali, fueled this surge in demand.
The market showed a shift toward higher-value properties, with the average ticket price reaching a record ₹1.66 crore. This trend is attributed to post-pandemic preferences for spacious homes, growing interest in premium housing, and rising property values. Year-to-date data reveals over 1.15 lakh properties registered in 2024, generating nearly ₹10,000 crore in revenue, indicating sustained investor interest. With higher disposable incomes, a favorable regulatory framework, and urban expansion, Mumbai’s real estate sector appears poised for continued growth.
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