- 7,556 objects registered in September 2021, 35% YoY progress
- Authorities earnings collections reveals sturdy progress; Revenue will improve by 186% YoY
- The share of houses in INR 1 Cr. and above section has elevated to 49% in September 2021, compared with 30% in April 2021 and 40% in June 2021
Knight Frank India well-known that Mumbai BMC space (i.e. Churchgate to Dahisar and Colaba to Mulund) recorded its most interesting September month effectivity.
Recording 35% YoY progress in property registrations in September 2021, 7,556 objects is a 10-year most interesting effectivity throughout the month of September. The registrations for September 2021 had been moreover 87% bigger compared with pre-pandemic interval of September 2019.
Desk 1: Property Registrations (2020-2021)
| Month | Fashions Registered | % Change
(YoY) |
| Jan-20 | 6,150 | 34% |
| Feb-20 | 5,927 | 11% |
| Mar-20 | 3,798 | -43% |
| Apr-20 | – | -100% |
| Would possibly-20 | 207 | -97% |
| Jun-20 | 1,839 | -67% |
| Jul-20 | 2,662 | -54% |
| Aug-20 | 2,642 | -55% |
| Sep-20 | 5,597 | 39% |
| Oct-20 | 7,929 | 36% |
| Nov-20 | 9,301 | 67% |
| Dec-20 | 19,581 | 204% |
| Jan-21 | 10,412 | 69% |
| Feb-21 | 10,172 | 72% |
| Mar-21 | 17,728 | 367% |
| Apr-21 | 10,136 | NA |
| Would possibly-21 | 5,360 | 2489% |
| Jun-21 | 7,856 | 327% |
| Jul-21 | 9,822 | 269% |
| Aug-21 | 6,784 | 157% |
| Sep-21 | 7,556 | 35% |
Provide: Maharashtra Govt- Dept. of Registrations and Stamps (IGR); Knight Frank India Evaluation
Discover- NA- Not related as product sales in April 2020 had been 0.
Desk 2: Property registrations throughout the month of September
| Month-12 months | Entire registrations (Fashions) | YoY Progress |
| Sep-12 | 1,066 | |
| Sep-13 | 4,116 | 286% |
| Sep-14 | 4,781 | 16% |
| Sep-15 | 4,807 | 1% |
| Sep-16 | 4,429 | -8% |
| Sep-17 | 5,714 | 29% |
| Sep-18 | 5,913 | 3% |
| Sep-19 | 4,032 | -32% |
| Sep-20 | 5,597 | 39% |
| Sep-21 | 7,556 | 35% |
Provide: Maharashtra Govt- Dept. of Registrations and Stamps (IGR); Knight Frank India Evaluation
Desk 3: Contribution of latest product sales as a result of the roll-back of decreased stamp duty window
| Apr-21 | Would possibly-21 | Jun-21 | Jul-21 | Aug-21 | Sep-21 | |
| Contribution from product sales in that respective month | 7% | 29% | 42% | 53% | 92% | 94% |
Provide: Knight Frank India Evaluation
Discover- *- Fashions bought and registered all through the equivalent month
The contribution of latest product sales proceed to rise
The stamp duty decrease window that closed on 31st March 2021 had translated into spill-over of registrations to the next months. Nonetheless, that incidence is now marginal on account of the steadily rising modern product sales that rose from 7% in April 2021 to 53% in July 2021. Now at its highest stage, 94% property registrations in September 2021 pertain to modern product sales whereby customers have bought the property with price of normal/bigger stamp duty worth.
Desk 4: Ticket dimension intelligent break up of things registered
| Ticket dimension | Share of flats provided in Sep to Dec 2020 | Share of flats provided in Jan to March 2021 | Share of current flats provided in April 2021 | Share of current flats provided in June 2021 | Share of current flats provided in Sep 2021 |
| <INR 1 Cr | 49% | 56% | 70% | 60% | 51% |
| INR 1 Cr to INR 5 Cr | 46% | 40% | 28% | 37% | 43% |
| INR 5 Cr to INR 10 Cr | 4% | 3% | 2% | 3% | 4% |
| >INR 10 Cr | 1% | 1% | <1% | <1% | 2% |
Provide: Knight Frank India Evaluation
Traction will improve for INR 1 Cr and higher ticket-size segments
Patrons throughout the bigger ticket-size segments of INR 1 Cr and above had been very energetic by way of the stamp duty decrease window from September 2020 to March 2021 after which decreased their actions submit the roll-back of incentive. Nonetheless, with bettering enterprise ambiance and wealth affect, this section is witnessing bigger traction in newest interval. The share of houses in INR 1 Cr and above section has elevated to 49% in September 2021, compared with 30% in April 2021 and 40% in June 2021.
Chart 1: State Authorities’s earnings assortment from stamp duty bigger than pre-pandemic stage
Authorities earnings collections develop before product sales as customers flock initiatives no matter roll-back of stamp duty decrease
Authorities earnings assortment elevated by a robust 186% YoY in September 2021. Elevated stamp duty worth and elevated product sales amount carried out a job on this sturdy earnings assortment. Elevated than the 2019 month-to-month pre-pandemic frequent earnings assortment worth of INR 454 Cr, the earnings assortment stood 14% bigger at INR 516 Cr in September 2021.
Shishir Baijal, Chairman & Managing Director, Knight Frank India
“A powerful progress in property registrations in Mumbai has been recorded throughout the latest numbers. Together with the improved market effectively being, authorities has moreover been able to improve earnings collections. The earnings stage from property product sales is bigger than the pre-pandemic frequent stage as customers continued to be energetic whatever the roll-back of the stamp duty incentive.
Improved pandemic state of affairs and conducive components of multi-year low property worth and multi decade low dwelling mortgage price of curiosity have moreover carried out an instrumental operate. With the upcoming pageant season, the market is gearing up for model new enterprise launches to revenue from this improved demand conditions. Given the prevalence of conducive demand drivers, product sales momentum going forward is anticipated to remain sturdy.”
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