Property registrations on the rise ahead of Dasara

Officials said they expected the numbers to increase in the coming week and said the impact of the coronavirus pandemic on the real estate sector appeared to be on the wane.

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property registration-constrofacilitator

The Pune registration department on Saturday said it was witnessing an uptick in property registrations in the days leading to Dasara.

Officials said they expected the numbers to increase in the coming week and said the impact of the coronavirus pandemic on the real estate sector appeared to be on the wane.

In the first week of October, daily registrations slowly increased from four digits to five digits.

“On October 4, we had 8,936 registrations; there has been a continuous rise in registrations from October 5. On October 6, there were 16,407 registrations. This increased to 24,113 on October 6. On Friday, we had 36,080 registrations,” October 6.

September too had witnessed high-value property registrations that helped the department rake in revenue higher than pre-pandemic levels. Nearly 1,8 lakh properties were registered last month, generating Rs2,655 crore. The same period in 2019 saw 1.91 lakh registrations and Rs1,977 crore in revenue.

Hardikar said they would take a call on keeping offices open on Dasara, a Friday, based on demand.

State Credai president Sunil Furde said the market sentiment was positive. “We are receiving positive feedback from all our members. The festivities will herald further growth,” he said.

Credai national vice-president Shantilal Kataria said the state’s initiative to start e-registrations too will help the sector further.