General
Mumbai’s Property Sales Decline By Over 6% Year-On-Year
Year-on-year biannual data of property registrations done in Mumbai shows a 6.39% decline. In 2022, between January and June, a total of 66,760 agreements for sale were registered with the Department of Registration and Stamps. On the other hand, during the first six months of 2023, which is up to June 30, 62,492 agreements for sale were registered.
In June 2023, a total of 10,319 property sale agreements were registered, as per data available from the state government. The previous June, 9,919 agreements for sale were registered in Mumbai.
Brokers, and consultants remain upbeat
Despite the decline in property registrations, real estate consultants and brokerage firms continue to be upbeat. They have been terming the recent sale of properties as a “bull run” of sorts and it being at an all-time high. However, a look at the 2023 property registration data shows a contradicting picture.
“Those who are into marketing and sale of properties will always try to portray a rosy picture of the industry, because their agenda is simple – to push more sales for their company to maintain a growth trajectory,” said an industry player in confidence.
“If the market is too buoyant and the demand as projected by the real estate consultancy firms, why for years is there stagnancy in the property prices?” questioned the same individual.
“Price of a product or service is directly dependent on the interaction between demand and supply. With such a heightened demand, the property prices should have increased month-on-month, but that is not the case despite the inflationary pressures that the Reserve Bank of India’s Governor himself has been categorically pointing out, repeatedly.”
Inflation, increase in home loan interest rates have hit market
Overall, in the recent past, the real estate market has witnessed a few headwinds impacting the sale such as inflationary pressure, increase in home loan interest rates, higher stamp duty rate, layoffs, etc.
At every repo rate or interest rate hike announced by the RBI, it is widely known that the real estate industry stalwarts have been presenting itself as upset and coming up with statements that it will impact property sales. Yet, within a few days, they contradict their own statements by mentioning the sales continue to be robust and at an all-time high.
Maharashtra
Shiv Sena wave in North Maharashtra, Dr. Shrikant Shinde takes charge of election campaign

Mumbai Nandurbar: Shiv Sena is on a wave in North Maharashtra. A large number of “Ladli Bheenas” and youth are participating in the rallies of Shiv Sena youth leader Dr. Shrikant Shinde. Dr. Shinde launched his election campaign in North Maharashtra today. Addressing the gathering, he said that the Mahayoti government has taken strong steps to empower women and youth, which is why Maharashtra’s Ladli Behna Yojana is becoming self-reliant. Attacking the opposition, he said that many opposition leaders were opposing the “Ladli Behna Yojana” but under the leadership of Deputy Chief Minister Eknath Shinde, this scheme was implemented and it will not be stopped under any circumstances. The opposition is only spreading confusion, Ladli Behna will respond with their votes. Dr. Shrikant Shinde explained that in the last three years, Shiv Sena has reached every corner of Maharashtra under the leadership of Eknath Shinde. Shinde Sahib is empowering his workers by holding eight meetings every day. He has an Urban Development Department, which has resulted in record-breaking funding for the backward villages of Maharashtra, paving the way for strong rural development.
Dr. Shrikant Shinde criticized UBT and said that some people are experts in criticizing, but they have never done any concrete work for the people. That is why today Mahayoti candidates are seen everywhere. The people are well aware of the state of the opposition.
Maharashtra
Kalyan College Namaz Controversy: SIO Demands Action Against Perpetrators

Mumbai: SIO has demanded strict action against the hooliganism of Bajrang Dal and Vishwa Hindu Parishad on offering prayers in Mumbai’s Kalyan College. Here, State Secretary SIO Aziz Ahmed said that
The incident that took place at Ideal College of Pharmacy and Research in Kalyan is highly condemnable and unacceptable, where hooligans belonging to Bajrang Dal entered the college campus, threatened and harassed Muslim students for offering prayers and even tried to make them sit in front of the statue of Chhatrapati Shivaji Maharaj. This incident is a direct attack on religious freedom and the sanctity of the educational campus.
SIO strongly condemns this incident and expresses complete solidarity with the affected students. We demand that strict action be taken against the accused at the earliest, the college administration ensure the safety of the students and take concrete steps to prevent such incidents in the future.
We appeal to the entire student community to maintain religious harmony and remain united against such sectarian attitudes and demonstrate strong solidarity.
Maharashtra
Five-year-old kidnapped girl rescued from Vakola, five arrested, girl held hostage by uncle in Panol

Mumbai: Police has claimed to have arrested five accused, including uncle Momani, on charges of kidnapping a five-year-old girl. The gang had planned to kidnap and sell the girl. A case of kidnapping of a minor girl was registered on November 22 under the limits of Vakola police station. Several teams were formed in Zones 8 and 7. During the investigation, it was revealed that a suspicious rickshaw had gone to Panvel and returned. A man, a woman, a rickshaw driver and the girl were in the rickshaw between 2 and 3 am. The kidnappers were identified as the girl’s uncle Lawrence Niconelis Fernandes, 42, and his wife Momani, who is a Mangal degree, both of them had gone to Panvel by rickshaw and were going to sell the kidnapped girl. The kidnapped girl was recovered from the possession of their acquaintance Sans. The Sans gave details about the wanted accused during the investigation, after which Windra Dinesh Chavan, 60, and Anjali Ajit Korgaokar, 57, were arrested from New Panvel, Raigad. The kidnapped girl was sold for Rs 1,80,000 and Vrinda Chavan was taken into custody from her house and the girl was safely brought to Vakola. This operation was carried out by DCP Manish Kalwaniya on the instructions of Mumbai Police Commissioner Deven Bharti and the girl was recovered safely. In this case, the police have arrested rickshaw driver Latif Abdul Majeed Sheikh, 52, a resident of Santa Cruz, Lawrence Nicholas Fernandes, 42, a laborer from Raigarh, Mangal Dagra Jadhav, 38, from Raigarh, Kiran Maruti Sons, 38, from Panvel, Vrinda Vanish Chavan, 60, from Raigarh and the investigation is underway.
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