A report compiled by IDBI Capital Markets Services, property registrations in Mumbai rose 37% in March 2012 to 5,766 units (Houses) compared to February (2012) on the back of increase in new project launches.
Total registrations grew 18% in the financial year 2012 ending March to 70,803 units compared to financial year 2011.
Mr. Hansraj Singh, Analyst (institutional equities), IDBI Capital Markets Services said, "Investors buy under construction apartments but they typically need a no objection certificate (NOC) from the developer if they want to further sell it. However, with the markets slowing down, developers are reluctant to give NOCs to investors as they might sell their properties below the developers’ quoted rates"
Highlights of IDBI Capital Markets Services..!
A similar hike in registration numbers in December to 5,891 units, while the trailing 3 month registration data remained stagnant at 4,802 units. .
The rise in registrations was also driven by investors' inability to sell off properties they had invested in.
Total registrations grew 18% in the financial year 2012 ending March to 70,803 units compared to financial year 2011.
Mr. Hansraj Singh, Analyst (institutional equities), IDBI Capital Markets Services said, "Investors buy under construction apartments but they typically need a no objection certificate (NOC) from the developer if they want to further sell it. However, with the markets slowing down, developers are reluctant to give NOCs to investors as they might sell their properties below the developers’ quoted rates"
Highlights of IDBI Capital Markets Services..!
A similar hike in registration numbers in December to 5,891 units, while the trailing 3 month registration data remained stagnant at 4,802 units. .
The rise in registrations was also driven by investors' inability to sell off properties they had invested in.
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