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Mumbai property registrations rise 12% in Dec

Rise in ready reckoner rates each year usually is effective from Jan of next calendar year

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Raghavendra Kamath Mumbai
Last Updated : Jan 28 2014 | 6:35 PM IST
Despite slow sales, property registrations in Mumbai and its suburbs (up to Dahisar in the western suburbs and Mulund in the eastern suburbs) saw a 80% month on month increase and yearly increase of 12% to 6916 units in the month of December 2013, according to a new report.

The reason for the jump is that December typically sees the highest monthly registrations in a calendar year due to rise in ready reckoner rates each year effective from January of the next calendar year, the report said, said a report by HDFC securities

For year to date FY 2014, the registrations have grown by 7% YoY to 46,706 units from 43,706 in YTD FY13, led by 24% YoY growth in iIsland city registrations, but muted 4% YoY growth in Mumbai suburbs.

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First Published: Jan 28 2014 | 6:31 PM IST

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