mumbai property sales volume in the countrys hottest property market mumbai declined for the 11th month in a row as rising interest rates and no major price corrections are forcing buyers to keep their home buy plans on holdin june property registration offices in mumbai witnessed 27 yearonyear decline in sales to 4683 on a monthly basis sales volume is down about 11 and close to twoyear lowhowever leasing activity continued to show robust growth at 10191 deals up 11 from a year ago and 2 from previous month according to data from office of director general of registrationresidential market transaction volumes in mumbai have plummeted more than 70 since its 2007 heydays unsold inventory levels are currently estimated to be approximately 21 of the under construction stock said property consultancy firm knight frank india in a reportsales registration is likely to remain low for next couple of months as this is a usual slack period for property market and it will be interesting to get an update around festive season of dusshera and diwali a realty broker said new launches around festive season are likely to get a positive response from customers only after developers slash prices he added in the past four months realty prices in some localities of mumbai fallen about 510 however prices are still 20 above the 2007 peaksthe investors segment which makes up approximately 20 of the market demand has been observed to be actively reducing its real estate portfolio thereby adding significant shadow supply into the market the knight frank report said