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Motilal Oswal Report
Property registrations in Mumbai in June 2022 witnessed a steady run-rate of more than 9,900 units (up 26% YoY), broadly similar to registrations in May 2022. The number of units registered in June 2022 was the best monthly sales in a decade.
While there is still some spillover impact of the advance purchase in March 2022, which was the last month to benefit from the lower stamp duty of 5%, the mix of these properties in current registrations has significantly declined as 70% of all registrations were for properties transacted in the same month.
As per Knight Frank, just 27% of the property registrations executed in June-22 were bought in March-22. The same was significantly higher at 82%/37% in April-22/May-22.
In Q2 CY22, housing sales in the top seven cities saw a seasonal drop of 15% QoQ to ~84,000 units, but was 24% higher than pre-Covid (Q2 CY19) levels. The growth in sales versus pre-Covid levels was consistent across cities, except Bengaluru.
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