Navi Mumbai has seen a rise of 5% to 722 sq ft in second half of 2020 compared to 685 sq ft in 2019, according to Knight Frank’s latest India Real Estate H2 2020 report.The city registered residential sales of 2,384 units year on year in second half of 2020 and new launches at 2,860 units YoY during the period.Home sales in Mumbai Metropolitan Region (MMR) witnessed a rise of 10.39% year on year to 30,041 units in second half of 2020 and new launches saw a decline of 25.26% year on year to 26,904 units.
The boom in residential sales can largely be attributed to the recent state government announcement of stamp duty reduction from 5-7% to 2-4% across various MMR regions effective for seven months from September 2020."As homebuyers in the mid.