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Mumbai realty robust despite small fall in flat sales in Feb

The Hindu Business Line | Business Standard | Financial Chronicle | The Economic Times , Mumbai

March 28, 2011


Mumbai’s real estate market continues to be robust despite a minor blip in February when flat sales clocked a 2.40 percent decline, a leading industry body said. The city reported a marginal decline in flat registrations at 16,341 in February as against 16,743 registrations in the year-ago period, data from the Maharashtra Chamber of Housing Industry (MCHI) showed. “There has been no sharp decline in Mumbai’s real estate market - there has only been a marginal decline in sales figures of residential apartments,” MCHI said in a statement here.

The decline in flat sales in the first two months of this year is not severe, MCHI’s President Sunil Mantri said, admitting, however, to a small dip in the same during the period.

“Although it is a fact that flat sales did decline in the first two months of the current year, the extent of fall is not that severe as is being made out to be by some,” Mantri said.

In 2010 (January-December), Mumbai clocked a total registration of 2,17,466 as compared to 1,94,885 in the previous year, MCHI data showed.