Niranjan Hiranandani on the record high Mumbai property registrations for July 2021

 

 

Niranjan Hiranandani, MD, Hiranandani Group and National President, NAREDCO remarking on decadal high Mumbai property registrations in July 2021 said, “there are twin factors driving this growth trend. Renewed interest from investors as also a sharp increase in end-users opting to buy a home. “Mumbai’s real estate has done phenomenally well, wherein 53% of registrations were accorded from new sales. This signifies that home has become the epicentre of our life and the residential market will see an uptick on festive tailwinds with stability in income and jobs yielding into higher consumption demand.”

 

Bulk of property registration data is homes bought by end-users; sales of primary residential real estate driven by the end-user segment of buyers has posted an increase through July 2021, he said. “It is a continuation of the trend which was seen in June 2021. After the lockdown in April and May, which saw a sharp decline in property registrations, the rebound in June was sharper in comparison. This continued through July on demand from end-users – driven by the hybrid model of work as also ‘work from home’ in the ‘new normal’.”