IGR Maharashtra has registered 9.70 lakh documents in the last four months till Aug 2022, with August 2022 alone seeing registratio.ns of properties around one lakh. According to a report on HT, the total earnings have been pegged at approximately Rs 1,776 crore in these last 4 months.
With these registrations, IGR Maharashtra has achieved 40 per cent of the target set for the current financial year, which has been fixed at Rs 32,000 crore. These numbers are very encouraging to the real estate segment which has seen fewer registrations in the same time period in the past. While, the first four months in 20-21, saw only two lakh property registrations in Maharashtra, 2019-20 saw 3.02 lakh property registrations.
Factors like increased confidence in the real estate market and different schemes lodged by the Maharashtra state government in the past are important factors that have contributed to the rise in registrations, points the IGR Maharashtra office. Realty developers add that the buoyant market pandemic period has also given this boost to the real estate segment.
Suhas Merchant, Former CREDAI President said, “We are witnessing strong sales and maximum properties being registered and filed during the past four months. Most of the consumers registering their properties are ready to complete the transaction and pay the stamp duty. The festive season will further add to the robust growth in the market.”