Mumbai has seen a growth in registration of properties. Registration for April and May saw year-on-year increases of 24 and 15 per cent, respectively. According to data collated by stock brokerage Prabhudas Lilladher from the Director General of Registrations, Mumbai, in March, Mumbai's sales registrations hit a 31-month high.    

The registrations rose 20 per cent year-on-year. On a monthly basis, however, April and May saw declines of eight and six per cent, respectively. Registration data comes with a lag effect of three to four months, as buyers usually register properties a couple of months after the purchases. Data collated by the brokerage included that for homes and offices.    

Sales registrations, through the first five months of 2013, have held strong, given last year’s low base, coupled with the festive season launches post a long hiatus, Kejal Mehta and Pratik Shah, analysts at Prabhudas Lilladher, said in a report released on June 20. The growth was primarily accounted for by Mumbai city, not its suburbs, owing to many launches in the city centre. In the last few months, developers such as Lodha Group, L&T Realty and Omkar launched various projects in central Mumbai.    

However, Mehta and Shah said given the lack of launches in the last few months and the estimated slow sales in the monsoon season, they expected sales registration to weaken through the next few months.