Registration of properties in Mumbai municipal region up 13% during Navratri: Knight Frank

Mumbai: Registration of properties in Mumbai municipal region rose 13 per cent during Navratri festival this year to 5,199 units compared with last year's Durga Puja, according to Knight Frank.

Real estate consultant Knight Frank India said Mumbai city (area under BMC jurisdiction) recorded 5,199 property registrations during the nine days of Navratri from October 3-11 against 4,594 units registered in Navratri 2023.

"The festive season sparked renewed sales momentum, leading to a sharp rise in property registrations," Shishir Baijal, Chairman and Managing Director of Knight Frank India, said.

He said registrations in September were lower as homebuyers typically avoid making major purchases during the Shraddh period.

"However, Navratri brought a shift in sentiment, with stable interest rates and growing demand for premium properties driving the increase. As the festive season continues into Diwali, registration volumes are expected to stay strong, supported by steady sales, gradually increasing property prices and stable interest rates," Baijal said.