Is Muhurat trading day considered a trading day in terms of T+1, T+2 etc. ?
I think yes. Except for the timings, as buying and selling will remain the same, so yes.
Please refer to the circulars from NSE (Eq and F&O), BSE, and MCX for more information. Read about the significance of Muhurat Trading & Samvat 2079 here.
While the markets will be open for trading from 6:15 PM to 7:15 PM on Monday, it will be a settlement holiday.
Any F&O credits (i.e. premium from options sold, marked-to-market profit, intraday profits, etc.) from October 21st and intraday equity profits from October 20th & 21st will not be included in the available funds during the Muhurat trading session due to the settlement holiday. Meanwhile, you will be able to check these credits in your Console ledger.
You can keep track of all the trading and settlement holidays here.
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So trading is allowed but the session is not counted, and is a settlement holiday 
The trading session is counted. But any settlement of stocks, i.e, if shares were to be credited to your account on that day or credit of option premium, intraday profits which were to be credited to your account on that day will not happen. Instead, it will happen on the next trading day.
You can learn more about settlement holiday here: Settlement Holiday and its Impact – Z-Connect by Zerodha
Yes, that is what I meant by that, settlement is not counted and it is a holiday.
How could the session be not counted if we could buy and sell, it is not a muhurat for paper trading, it is real market 
As per my understanding 21 and 24 October trade will be settled on 27 October (2 different settlement same day ) so buying on 21 and selling on 24 not possible …selling on 25( settlement on 28) is very much possible for shares bought on 21 or 24 .
Market is open but banks are closed is settlement holiday /clearing holiday .
What I wanted to know is, if I have pledged shares on 21st, will the additional margin be available on Muhurat day 24th (T+1) or If I have bought shares on 21st, will 24th be treated as T+1.
For 21st, 27th will be T+2 and for 24th, 28th will T+2, as 24th is settlement day.
for 24 October T plus 2 means settlement date is 27 October … 24 is T day 25 is T 1 and 27 is T2 . moreover one may also refer to nse /bse October 2022 settlement calendar which says 2 settlement on 27 …1 for trades done on 21 and other for trade done on 24 .
T plus 2 is counted on the basis of trading day .
24 is settlement holiday, T+3 happens, so 25 is T+1, and 26 is T+2, 27 is T+3 
Market is closed on 26 October so shares dealt on 24 October will have T PLUS 2 on 27 October.
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I was thinking only 24th is holiday, 26th is also holiday, ok 
Which astrologer/priest exchanges consult to decide timings Muhurat trading? Anybody has any idea?
As with every other muhurat, there is some sort of agreement as to which could be given for this, and it is given.
Yes, like everyone else mentioned here, it is so if you’re looking to buy or sell.