October 21, 2024: Mumbai city has recorded 5,199 property registrations during the nine days of Navratri, from October 3 to 11, 2024, showing a 13.2% year-on-year (YoY) growth compared to 4,594 units registered in Navratri 2023, mentioned a Knight Frank India report. The state exchequer collected a total revenue of Rs 502 crore from these registrations. Additionally, the daily average property registrations rate increased from 510 units in the nine days of Navratri 2023 to 578 units in Navratri 2024. Daily revenue also saw a significant boost, rising from Rs 48 crore per day in Navratri 2023 to Rs 56 crore per day in 2024.
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Mumbai property sale registrations in Navratri
| Period | Registrations
(No of Units) |
Registrations per day (No of Units) |
YoY |
| Navratri 2023 | 4,594 | 510 | 13.2% |
| Navratri 2024 | 5,199 | 578 |
Source: Maharashtra Govt- Dept. of Registrations and Stamps (IGR); Knight Frank India Research
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In September 2024, the city registered a total of 9,111 property transactions, averaging 304 units per day. The decline in registrations during this month was mainly attributed to homebuyers’ reluctance to make purchases during the Shraddh period, which was observed from September 18 to October 2, 2024.
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Revenue collection from property registrations during Navaratri in Mumbai
| Period | Registrations Per Day
(No of Units) |
% Change | Revenue Per Day
(INR cr) |
% Change |
| Navratri 2023 | 510 | 13.2% | 48 | 15.2% |
| Navratri 2024 | 578 | 56 |
Source: Maharashtra Govt- Dept. of Registrations and Stamps (IGR)
Per day registration trend during Navratri 2023 and 2024
| Registration (No of Units) | Revenue (INR cr) | |||||
| Navratri | 2023 | 2024 | Navratri | 2023 | 2024 | |
| Day 1 | – | 784 | Day 1 | – | 87 | |
| Day 2 | 712 | 816 | Day 2 | 64 | 72 | |
| Day 3 | 572 | 147 | Day 3 | 50 | 13 | |
| Day 4 | 633 | – | Day 4 | 58 | – | |
| Day 5 | 686 | 677 | Day 5 | 56 | 84 | |
| Day 6 | 926 | 508 | Day 6 | 20 | 39 | |
| Day 7 | 356 | 592 | Day 7 | 126 | 50 | |
| Day 8 | – | 783 | Day 8 | – | 66 | |
| Day 9 | 709 | 892 | Day 9 | 62 | 91 | |
Source: Maharashtra Govt- Dept. of Registrations and Stamps (IGR)
Note: Navratri 2023 was observed 15th Oct to 23rd Oct 2023 and Navratri 2024 was observed from 3rd Oct to 11th Oct 2024
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Per day registration and Revenue Trend during Shraddh 2023 and Shradh 2024
| Particulars | Shraddh 2023 | Shraddh 2024 |
| Registration (Units) | 3,353 | 3,216 |
| Average Registration / Day | 279 | 292 |
| Revenue (INR cr) | 191 | 219 |
| Average Revenue / Day | 16 | 20 |
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As per the Knight Frank report, during the 2024 Shraddh period, Mumbai saw 3,216 property registrations, with the daily average rising by 5%, from 279 to 292 units, showing steady market activity. Revenue collection also saw strong growth, with a 14% increase to Rs 219 crore in 2024, compared to Rs 191 crore in 2023. The average daily revenue jumped by 25%, from Rs 16 crore to Rs 20 crore. These numbers highlight the resilience of Mumbai’s property market, even during typically slower periods.
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Shishir Baijal, chairman and managing director, Knight Frank India, said, “The festive season sparked renewed sales momentum, leading to a sharp rise in property registrations. September 2024 saw lower volumes as homebuyers typically avoid making major purchases during the Shraddh period. However, Navratri brought a shift in sentiment, with stable interest rates and growing demand for premium properties driving the increase. Revenue collection during Navratri 2024 increased by 15.2%. As the festive season continues into Diwali, registration volumes are expected to stay strong, supported by steady sales, gradually increasing property prices, and stable interest rates.
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