Mumbai registered 7,857 properties in June, marking a four-fold jump compared to 1,839 units in June 2020. Registration was 39 per cent higher compared to June 2019, a time before the coronavirus pandemic.

       "Even though the duration of lockdown in Mumbai was similar to last year, the pick-up post gradual easing of restrictions was sharper this time around compared to last year," said a report by Knight Frank, a consulting company.

       The report said 42 per cent of registrations in June were for new residential sales concluded that month, compared to 29 per cent in May 2021 and 7 per cent April 2021. At 3,300 units, the number of new apartments sold (fresh sales) during June 2021 was more than double compared to 1,554 units sold in May 2021 and 348% higher compared to 710 units sold during April 2021.

       Share of women homebuyers in new sales improved from 1.8 per cent in May 2021 to 4.7 per cent in June 2021

       Maharashtra, to celebrate International Women’s Day, announced on March 8 a one per cent rebate in stamp duty for women homebuyers from April 1, 2021. As a result, women homebuyers constituted 6.6 per cent of new home sales in the month of April 2021 paying a discounted stamp duty rate of 4 per cent over their purchase. In May 2021, the share of women homebuyers across the 5,360 units registered in May 2021 dropped to 1.7 per cent. In June, the share of women homebuyers across the 7,857 units registered increased to 4.7 per cent.

       Maharashtra’s government, in December 2020, had given a leeway of four months to homebuyers to register a property after the payment of stamp duty in order to prevent crowding of registration offices. This ensured that homebuyers who purchased residences and paid stamp duty by March 31, 2021, got four months till July 31, 2021 from the date of payment of stamp duty for registering their apartment.

       Before this leeway was permitted, for over 95% of registrations in recent years, the difference between date of payment of stamp duty and date of registration was less than 10 days and for less than 2% of the registrations, the difference was over 30 days, Knight Frank said.