Mumbai Dec home sale registrations added Rs 821 cr to state revenues: Study

Need for home ownership drives demand; over 100,000 sale deeds registered for second year on trot in 2022. In fact, registrations were up 9% YoY in 2022, to hit a 10-year high

Some 9,142 properties sold in December in Mumbai contributed over Rs 821 crore to Maharashtra's revenues by way of stamp duty and registration fees. Eighty four per cent of these were residential units, according to Knight Frank.

For the whole of calendar year 2022, the state collected stamp duty and registration fees of about Rs 8,887 crore. Over 121,000 housing sales were registered in Mumbai city alone.

Post pandemic, the need for home ownership drove the market demand, with over 100,000 sale deeds being registered for the second straight year in 2022. In fact, property registrations rose nine per cent