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Perspective on June’s Stamp duty & Registration data for Mumbai By Mr. Sharad Mittal, Director and CEO, Motilal Oswal Real Estate Funds.

“The real estate market has remained steady in Mumbai with property sale registrations seeing a mild uptick month-on-month with registration of approx. 9,700 units in June’22. This shows that despite the pressures of inflation, increasing mortgage rates, rise in stamp duty due to inclusion of metro cess and rising input costs, the numbers have been consistent. Strong sentiments and the emotional value around homeownership has resulted in robust demand during the last 2 years. We believe that in the short term, we could see tapering of some demand as mortgage rates are expected to further rise, however in the long term the fundamentals of the sector remain strong to see continued home buying momentum.”

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