Mumbai, Aug 31 (PTI) Registration of properties in Mumbai municipal region is likely to rise 7 per cent annually in August to around 11,650 units on strong demand, according to Knight Frank India.

Citing Maharashtra government data, real estate consultant Knight Frank India said that Mumbai city (area under BMC jurisdiction) has recorded 11,631 property registrations so far in the month of August.

Also Read | Jellyfish in Mumbai: 'Blue Button Jellyfish' Turn Up on Girgaon Chowpatty; Know How To Be Safe and Treat Its Sting.

The data is till 8.15 pm on Saturday, August 31 and the number is likely to increase slightly to around 11,650 units.

In August 2023, the Mumbai city saw registration of 10,902 properties.

Also Read | Shillong Teer Results Today, August 31 2024: Winning Numbers, Result Chart for Shillong Morning Teer, Shillong Night Teer, Khanapara Teer, Juwai Teer and Jowai Ladrymbai Games.

The data pertains to registration of properties transacted in both primary (first sale) and secondary (resale) markets.

The state government is expected to earn more than Rs 1,050 crore from the registration of these properties.

"Sustained buyer confidence has resulted in consistent sales on monthly basis, exceeding 10,000 units for the first eight months of the year," the consultant said.

Shishir Baijal, Chairman & Managing Director, Knight Frank India, said, Mumbai's residential market has maintained strong momentum in 2024, with monthly sales showing consistent YoY growth.

"The strong economic outlook and stable interest rates have kept homebuyer sentiments positive, fuelling steady sales," he said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)