By Anuj Puri, Chairman – ANAROCK Property Consultants
Among top 7 cities, MMR saw most new launches – nearly 13,600 units & highest sales at 15,200 units in Q2 2018
On the back of critical policy reforms like DeMo, RERA and GST, 2018 is seeing both sales and new supply picking up across cities. Interestingly, the Mumbai Metropolitan Region (MMR) leads this trend.
In terms of sales too, MMR clocked the maximum housing sales with approximately 15,200 units being sold in Q2 2018 – an increase of 26% against Q1 2018.
MMR’s top 3 micro markets across budget ranges 2017 – Q2 2018:
Affordable Segment (< Rs. 50 lakh)
Mid Segment (Rs. 50 lakh – 1 Crore)
City | Budget Configurations | Micro Markets | Average Price (On Carpet) | Average Size (On Carpet) | Launched Units (2017 – Q2 2018) |
Navi Mumbai | < INR 50 Lakh | Rasayani | 5,100 | 450 | 2,410 |
Mumbai | < INR 50 Lakh | Palghar | 4,550 | 380 | 1,710 |
Navi Mumbai | < INR 50 Lakh | Panvel | 6,700 | 380 | 1,510 |
Mumbai | INR 50 Lakh – INR 1 Cr | Kandivali | 20,000 | 390 | 2,300 |
Mumbai | INR 50 Lakh – INR 1 Cr | Dahisar East | 18,000 | 470 | 710 |
Navi Mumbai | INR 50 Lakh – INR 1 Cr | Shilphata | 7,800 | 630 | 530 |
Mumbai | INR 1 Cr – INR 2.5 Cr | Andheri East | 27,400 | 510 | 2,230 |
Mumbai | INR 1 Cr – INR 2.5 Cr | Mulund West | 27,400 | 650 | 960 |
Navi Mumbai | INR 1 Cr – INR 2.5 Cr | Seawoods | 12,500 | 1050 | 200 |
Mumbai | > INR 2.5 Cr | Mazgaon | 65,000 | 950 | 820 |
Mumbai | > INR 2.5 Cr | Tardeo | 75,000 | 800 | 550 |
Navi Mumbai | > INR 2.5 Cr | Sanpada | 21,000 | 1250 | 50 |
(Source: ANAROCK Research)
Luxury Segment (Rs.1 Crore – 2.5 Crore)
Ultra-Luxury Segment (> Rs. 2.5 Crore)
Immediate Outlook:
Maharashtra has emerged as one of the most active states in RERA implementation, and MahaRERA has been the primary driving force behind MMR’s regained momentum in 2018. In over a year, the authority has registered more than 17,220 promoters and 15,550 agents, the highest across the country.
While the proposal to levy a surcharge of 1% on stamp duty (increasing to 6% from the existing 5%) could prove to be a slight dampener in the short-term, the decisive return of buyers to the market is beyond question.
Corporate Comm India(CCI Newswire)
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