The Mumbai real estate market saw a 16% increase in property registrations in the first half of 2013, despite a slowdown in the economy of the country. This source came from Director General of Registrations, Mumbai.
An increase in the number of registrations was seen this year in Mumbai real estate market as compared to last year, 34.588 registrations have already done this year as compared to 29,773 of last year, factors like faster approvals for projects, developers giving discounts, and freebies on bookings appear to own a positive impact on property absorptions in the metropolis.
For the last 12-18 months, sales have been sluggish in the Mumbai market because of the change in development control rules, also increasing liquidity pressures that are being faced by developers had hit the market.
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