Mumbai: Government Sells More Than 12,000 Houses In March

Mumbai, 31st March 2023: In March, 12,358 houses were sold in Mumbai and from this, the state government got a revenue of Rs 1,137 crore. Although this is the highest number of home sales in the new year so far, it is lower than March 2021 and 2022.

March and December are the months of house sales on a large scale. Consumers tend to pay stamp duty by signing the document. The rate of recalculation increases from 1st April. The stamp duty increases accordingly. Hence, house sales and stamp duty collections also increase in March. In this background, there was a record house sale in Mumbai in March 2021. As many as 17,728 houses were sold. In March 2022, 16,726 houses were sold. The government got a revenue of Rs 1,160 crore from this. This year, 12,358 houses were sold in March. Home sales have not reached the number of 15 thousand. Rising house prices and a rise in home loan interest rates may have affected home sales. Also, there is a possibility that the state government employees’ strike has also affected the registry.