October 2021 registered exceeds the period of one year ago

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October 2021 recorded more than 8,000 property registrations in Mumbai, surpassing September figures, according to data from the Inspector General of Registration, Maharashtra.

October’s performance, with normal stamp duty rates, also exceeded the record numbers seen over the period last year, when a total of 7,928 transactions were recorded during a period of last year. stamp duty discounts.

Property developers believe the pace of sales and launches has improved over the current holiday season and the trend is likely to continue on Diwali as well.

Here are the opinions of real estate experts:

Sandeep Runwal, President-elect, NAREDCO Maharashtra and Managing Director, Runwal Group

“While few developers have launched their new projects over the holiday season, many offer attractive pricing and flexible payment plans that have boosted sales. Government support with various policy measures over the past year has also helped convert many undecided and first-time buyers. End-user interest has increased mainly due to the persistently low mortgage interest rate regime which has provided the fuel necessary for the growth of the economy as well as the real estate sector with which several other allies besides the mortgage rates. Low interest, consumer awareness of homeownership as well as key policy measures have been driving growth in the real estate sector in recent quarters and strong demand is expected to continue over the last few quarters. holiday season underway too. “

Ram Naik, Executive Director, The Guardians Real Estate Advisory

“The historically low interest rate, lucrative festive offers with flexible payment options and increased consumer awareness will make this festive season the best of the decade. What we are seeing in the Indian real estate market is quite unusual as there has never been a time in recent history when every factor that determines buying sentiment goes in favor of buyers. Whether it’s interest rates, developer offers, or flexible payment options, everything is placed in favor of homebuyers. The other interesting aspect of this development is also the fact that consumers know that this will be the last bus to own a house with the best value proposition.

Shraddha Kedia-Agarwal, Director, Transcon Developers

“Historically low interest rates have already boosted the real estate industry, increasing demand in recent quarters and boosting homebuyer confidence. In addition, other factors such as the right mix of products, better lifestyle improvements and improved city infrastructure has made the residential real estate market more lucrative for homebuyers and investors. Favorable government policy measures as well as festive deals have helped sustain demand during the current holiday season. Home buyers also take this opportunity to invest in desired properties. “

Cherag Ramakrishnan, Managing Director, CR Realty

“The real estate market has had decent sales this year and the reduction in interest rates from major banks has also helped maintain sales momentum. Additionally, the aggressive launch pipeline the developers had planned ahead of the holiday season helped boost sales. We have seen an upsurge in site visits from fence guards and are optimistic the holiday season will see good sales momentum. “

Vinay Kedia – Director, Prescon Group

“We have seen strong demand from buyers in the past few months due to pandemic induced factors such as working from home, healthy lifestyle, safety and security etc. In addition, several other factors such that developers offering flexible payment options, lowest mortgage interest rates, festive offers and various government measures are boosting sales in the real estate sector.In addition, rate cuts by major banks during the The ongoing holiday season has also encouraged buyers. This bodes well for the fence guards who can now grab the best opportunity to purchase their dream home. “

Bhushan Nemlekar, Director, Sumit Woods Limited

“The prevailing low mortgage rates are already attractive to homebuyers, which has benefited the real estate industry tremendously in recent months. The record low interest rate along with the festive offers encouraged consumers to make their purchase and complete transactions quickly. Indeed, consumers should take advantage of such lucrative deals on the market as these festive deals have a limited time and now is the best time to grab the opportunity to own a home. “

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Posted on: Saturday October 30, 2021 6:29 PM IST


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