₹453 crore in January. While registrations were lower year-on-year, revenue rose 48% during the same period, property advisory Knight Frank India said on Monday.
During the same period in 2021, lower stamp duty rates and a fall in covid infections had boosted registrations. More than 500 sq ft category homes continued to dominate in MCGM region with 60% sales, despite the government incentive to abolish property taxes.
About 45% of all sales in January were in categories above 500-1000 sq ft. “…Cautiousness on account of the third wave has influenced sentiment which is reflected in January registrations.
However, as previously experienced, we see this slowdown as a temporary blip and market will gain momentum as the rate of infection declines.