More than 4,800 properties have been registered in Mumbai’s real estate market in the first 10 days of November, ahead of Diwali, which marks the peak of the festive season.


This is a little over 40 percent of the average monthly registrations in Mumbai, according to data from the Maharashtra Inspector General of Registrations and Stamps. On average, more than 300 properties were registered in the city every day this year, taking the monthly total to 9,000-10,000.


According to the data, the Mumbai real estate market reported 4,811 property registrations and Rs 354 crore in stamp duty revenue this month, as of 8 pm on November 10. In comparison, 10,607 property registrations were reported in the city in October, raking in Rs 835 crore in revenue.


Diwali is considered an auspicious time to buy property, more so when there are sales and promotions offered.


However, even as property registration seems to be robust, developers said the pace of closing deals is slower this festive season than last year, at least in Mumbai. Homebuyers are taking longer to decide on purchases because they have a plethora of options.