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
Mumbai Goregaon illegal call center exposed, 15 accused arrested

Mumbai: The Mumbai Crime Branch has claimed to have busted an illegal call centre in the Goregaon area of Mumbai. The call centre was used to defraud American citizens. In the name of updating antivirus software on a toll-free number, it used to fool American citizens and lure them into investing in crypto currency and dollars by luring them to buy gifts worth $250 to $500. On September 15, the Crime Branch Unit 12 received a tip-off and arrested 15 accused during the raid and recovered 10 laptops, 20 mobile phones, two call centre operators, a manager and 10 tolly group agents from the possession of the accused. The Crime Branch has registered a case under the Cheating and IT Act in this case. The operation was carried out on the instructions of Mumbai Police Commissioner Deven Bharti, Joint Police Commissioner Lakshmi Gautam and DCP Vishal Thakur.
Maharashtra
India-Pakistan cricket match: BJP government should clarify its policy: Uddhav Thackeray

Mumbai: Mumbai Shiv Sena chief Uddhav Thackeray targeted BJP after the India-Pakistan cricket match and said that the Bharatiya Janata Party (BJP) only pretends to be patriotic and this has now become clear. What would have happened if the cricket match was not played with Pakistan? On one hand, after the terrorist attack in Pahalgam, Pakistan was declared an enemy country and a delegation was sent against it at the international level. Pakistan’s misdeeds were put forward there, but what message will go at the international level if cricket is played with Pakistan. Pakistan carries out terrorist attacks against India and we play matches with it. The stand that the country had made clear against Pakistan after the Pahalgam attack should be maintained, but the BJP wants to sing praises of Amit Shah and Jai Shah. Delegations from across the country say that Pakistan carried out a terrorist attack on India and now a match is being played with it. Is this right? Uddhav Thackeray also raised questions on the foreign policy regarding Pakistan and said that on one hand we call Pakistan a terrorist country and on the other hand we play cricket with it. We narrate the misdeeds of Pakistan during our foreign trips. So what message will go to these countries that on one hand India calls Pakistan a terrorist and on the other hand maintains relations with it. So why would any country support India against Pakistan? Therefore, it is important to decide whether Pakistan is an enemy or a friend. If we end relations with Pakistan, we can convince other countries to do the same. But what message will go when we talk against Pakistan and play cricket with it? That is why I call the Bharatiya Janata Party a fake Janata Party.
Maharashtra
In the cabinet meeting, approval was given to establish 79 Kisan Bhavans for the farmers of Maharashtra

Mumbai 8 important decisions were taken in the Maharashtra Cabinet meeting today. Emphasizing the focus on the basic facilities of the state in the cabinet meeting, the sub-committee for general facilities has been approved. The Chief Minister and other ministers will be members of this committee. The proposal to build 79 Kisan Bhavans for the farmers of the state has also been approved. After the approval of the UP committee i.e. the sub-committee for Maharashtra development, now this committee will take decisions on the work related to development works and projects. The proposal to build a 94 km long road to connect Gudhchiroli by road has been approved. Its estimated cost will be Rs 931 crore 15 lakh. Its responsibility has been given to the Ministry of Construction and PWD. The Energy Department has a target of generating 5,000 MW of electricity in the state and this work has been assigned to the Energy Ministry.
-
Crime3 years ago
Class 10 student jumps to death in Jaipur
-
Maharashtra12 months ago
Mumbai Local Train Update: Central Railway’s New Timetable Comes Into Effect; Check Full List Of Revised Timings & Stations
-
Maharashtra11 months ago
Mumbai To Go Toll-Free Tonight! Maharashtra Govt Announces Complete Toll Waiver For Light Motor Vehicles At All 5 Entry Points Of City
-
Maharashtra12 months ago
False photo of Imtiaz Jaleel’s rally, exposing the fooling conspiracy
-
National News11 months ago
Ministry of Railways rolls out Special Drive 4.0 with focus on digitisation, cleanliness, inclusiveness and grievance redressal
-
Crime11 months ago
Baba Siddique Murder: Mumbai Police Unable To Get Lawrence Bishnoi Custody Due To Home Ministry Order, Says Report
-
Maharashtra10 months ago
Maharashtra Elections 2024: Mumbai Metro & BEST Services Extended Till Midnight On Voting Day
-
National News12 months ago
J&K: 4 Jawans Killed, 28 Injured After Bus Carrying BSF Personnel For Poll Duty Falls Into Gorge In Budgam; Terrifying Visuals Surface