After minimal activity, realty in Maximum City picks up
Mumbai saw 14,990 sales registrations in the last three months, against 13,841 registrations recorded in the same period in 2013
Oct 24, 2014
Source : The Financial Express
Housing Property

 

Mumbai: Property sales registrations in Mumbai have seen a marginal year-on-year increase of 8.3% in July-September 2014, signalling a revival in buyer sentiment. This is after a 9.4% y-o-y fall in sales registrations witnessed between January and June 2014.

Analysts and consultants tracking real estate say that after a decisive mandate for the government at the Centre and with key economic indicators also looking positive, there is an improvement in property buying sentiment.

Mumbai saw 14,990 sales registrations in the last three months, against 13,841 registrations recorded in the same period in 2013, data from the Director General of Registrations, Mumbai, show.

Mudassir Zaidi, national director (residential), Knight Frank India, says that though no floodgates have opened, there are customer enquiries. “Enquiries have picked up, the first sign of a better market. Projects in a good location and priced below the regular pricing in the market are selling well. Pre-launches of projects are also receiving good response,” he says.

Sandipan Pal, vice-president (real estate), Motilal Oswal, says there are more launches this time compared with the second half of 2013. With the change in development control regulations in Mumbai, a lot of supply had got stuck as developers were required to revisit their plans to comply with the new regulations. However, Pal says that conversion into deals still remains a challenge, as decision-making among buyers is yet to pick up. “Enquiries have gone up but the 2010-11 type of conversions are not there yet. However, realty companies are saying that they definitely see a positive approach among property buyers and are hopeful that the coming months would be looking better,” he says.

Zaidi of Knight Frank is of the opinion that by February 2015, it will be a far better situation in terms of residential sales numbers.

Data from Liases Foras show that in January-June 2014 there was 40 million square feet of residential supply launched in the Mumbai Metropolitan Region, which is better than the same period last year, when 31 million square feet space was launched. In fact, the 2014 numbers is a tad more than the launch figures seen between January and June of calendar year 2010 (39 million sq ft).

Latest Realty News

Festive season fails to bring cheers for real estate
Oct 24, 2014
MUMBAI: Despite recovery in market conditions and sentiment, this festive season has failed to bring in cheers to the real estate industry
Water crunch may hit DDA's new houses
Oct 24, 2014
NEW DELHI: People who have registered for DDA's latest housing scheme will most likely face a severe potable water crisis
Real estate helping Asia Pacific HNWIs to lead world
Oct 24, 2014
As the numbers of Asia Pacific HNWIs look to overtake North America in the next few months, their investment in real estate has been among the main factors for the growth, says data expert, Capgemini
Housing societies slam doors on singles ‘ready to mingle
Oct 24, 2014
Mumbai: The latest in a set of unwritten “rules” followed by housing societies while letting out flats to people in the city is “no singles allowed
No takers for ‘easy’ schemes by desperate developers
Oct 24, 2014
Mumbai: In a bid to beat their blues in the slackened realty market, developers in Mumbai are trying to make the most of the festive season by dangling lucrative easy payment schemes
Pune to witness 40% shortfall in housing units by 2018: Study
Oct 22, 2014
PUNE: The city is expected to witness a 40% shortfall in the supply of housing units by the end of 2018
'Make builder accountable for collapse'
Oct 22, 2014
NEW DELHI: In the wake of building collapses in Delhi, Chennai and Mumbai, city architects, structural engineers and even building plan sanctioning agencies pushed for a new provision in the regulations to hold contractors and builders responsible
Realty portals filling information gap for buyers
Oct 22, 2014
Bangalore: Now online start-ups, including Housing.com, PropTiger, and CommonFloor, are setting up their own teams, data science labs and open forums to provide safety information to buyers of Real Estate Props
Consumer activism: Buoyed by social media and pro-consumer courts, homebuyers take on errant builder...
Oct 22, 2014
MUMBAI | NEW DELHI | KOLKATA: The real estate industry is no more a 'seller's market' and is in fact a 'buyer's market'
Housing industry upbeat over BJP government in state
Oct 22, 2014
Mumbai: Representatives of the housing industry in Mumbai and Maharashtra are upbeat with the results of the Maharashtra Assembly elections coming out in favour of the BJP

Latest Realty News Of State

Realty Talk's