The Mumbai BMC region, which covers Churchgate to Dahisar and Colaba to Mulund, registered property registrations of 5,360 units in May 2021, marking a decline of 47 per cent month-on-month, compared to April 2021. According to a recent research report by leading real estate consultancy Knight Frank, the property registrations were down 15 per cent in May, compared to 6,270 units registered in May 2019. However, new registrations grew 25 times last month, compared to May 2020, as a result of the base effect.
According to the report, only 29 per cent of registrations last month were from new residential sales concluded in the month, while 71 per cent of the registered properties were from sales concluded in the period between December 2020 – April 2021. These registrations got recorded in May and out of the total sales in May 2021, 62 per cent were in sub Rs 1 crore category, said Knight Frank in its report.