Registration of properties in Mumbai municipal area is likely to rise by 33 pc annually to around 12,500 units during this month on better demand, according to Knight Frank.

As many as 9,367 properties were registered in Mumbai city (area under BMC jurisdiction) during the same month last year.

Real estate consultant Knight Frank India has compiled the data of registration of properties from Department of Registrations and Stamps, Maharashtra government.

As per the latest data of December, 12,134 units were registered till 12 noon and the number is set to reach around 12,500 units by late evening.

“Homebuyers in Mumbai continue to demonstrate confidence in the property market, buoyed by stable demand and an enhanced positive sentiment. This optimism has resulted in a significant surge in property registrations in Mumbai,” the consultant said in a statement on Saturday.

Of the overall registered properties, residential units constitute 80 per cent.

Bangalore office leases

Bangalore saw a 15-fold jump in net office leasing during the quarter due to many large leasing transaction from corporates as well as low base effect, according to Cushman & Wakefield.

Real estate consultant Cushman & Wakefield said on Saturday that the net leasing of office space stood at 18.63 million sq ft during the October-December period across major eight cities as against 9.06 million sq ft in the year-ago period. The Bangalore office market achieved the highest volume and also maximum surge in percentage term during the current quarter of this year.