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
Protection of religious places in Bhiwandi road expansion project, MLA Raees Sheikh assures protection of religious places after meeting with Municipal Commissioner

rais shaikh
Mumbai: Samajwadi Party leader and MLA Raees Sheikh has demanded protection of religious places like mosque, temple, gurudwara, and Samaj Mandir in the Bhiwandi road expansion project. He has also demanded rehabilitation and compensation for the victims of the Bhiwandi and Kalyan road expansion project. Raees Sheikh was being accused of supporting the DP plan to benefit the builder lobby, after which Raees Sheikh met the Municipal Commissioner Bhiwandi Nizampur today and made it clear that the road and DP plan and policy are not prepared by the MLA. He said that the road expansion and DP plan should be changed and the protection of religious places should be ensured, on which the Municipal Commissioner Bhiwandi Nizampur assured Raees Sheikh that the protection of religious places will be maintained. If it is an obstacle in the survey, then necessary changes should be made in the project along with ensuring their protection. He said that religious places of any nature will be protected.
Maharashtra
Khan can also become the mayor of Mumbai, just be a citizen of Mumbai… Criticism on BJP leader amiyat satum, Rais Sheikh Brahm for trying to give religious color to everything

rais shaikh
Mumbai: If you are a citizen of Mumbai and love Mumbaikars, then any person from Mumbai, D’Souza, Khan, Khanolkar, can become the Mayor. The BJP in Mumbai views everything through a religious lens, and this is completely wrong, said Mumbai Samajwadi Party MLA Raees Shaikh on Wednesday, reacting to a statement by BJP Mumbai president MLA Amit Satam. On Tuesday, BJP’s victory in Worli was challenged by MLA Amit Satam at the Sankalp rally, ‘If Shiv Sena (UBT) comes to power in the Mumbai Municipal Corporation, then ‘Khan’ will become the mayor of Mumbai. But the BJP will not let this happen. Any attempt to change the colour of Mumbai will be thwarted. Taking notice of this, MLA Raees Sheikh said, “Anyone can become the mayor of Mumbai, be it a Bohri, Parsi, Christian, Marathi, Muslim, Mumbai city is not a personal fiefdom of BJP, if Mumbaikars express their faith, then a Mumbaikar of any caste or religion can become the mayor of this city. MLA Sheikh further said that the double engine government in the state has ended. BJP has no problem left for Mumbai’s development. Therefore, BJP leaders create such problems and problems which increase religious division during the election period. BJP does not consider Mumbai’s development important. Therefore, this city is being made unsafe. The blood of our ancestors is also in the soil of this country. What do you see in the religion of political leaders? Look at the leader’s contribution and work in development, Raees Sheikh strongly criticized the BJP president and made these targeted criticisms. Made.
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.
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