Sales & New Supply Picking Up Across Cities, MMR Leads This Trend
After the critical policy reforms like Demonetization, RERA and GST, 2018 is seeing both sales and new supply picking up across cities. Interestingly, the Mumbai Metropolitan Region (MMR) leads this trend.
ANAROCK data indicates that out of the total new housing supply of around 50,100 units in Q2 2018 across the top 7 cities, MMR saw the highest number of new launches with nearly 13,600 new units a 59% increase against the preceding quarter.
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 range 2017 – Q2 2018:
Affordable Segment (< Rs. 50 lakh)
- Rasayani in Navi Mumbai saw the launch of nearly 2,410 units, with average prices being Rs 5,100/sft and average property size being 450 sqft.
- Palghar in Mumbai saw the launch of nearly 1,710 units, with average prices hovering around Rs. 4,550/sft and average property sizes at around 380 sqft.
- Panvel in Navi Mumbai, the third-most active micro market in MMR in this segment, saw the launch of nearly 1,510 units. The average property prices are Rs. 6,700/sqft and average carpet area is 380 sqft.
Mid Segment (Rs. 50 lakh – 1 Crore)
- Kandivali in Mumbai saw as many as 2,300 units launched since 2017, with average prices at Rs. 20,000/sqft with an average size of 390 sqft.
- Dahisar East in Mumbai saw the launch of nearly 710 units with average prices at Rs.18,000/sft and size at 470 sqft.
- Shilphata in Navi Mumbai, another prominent locality for mid-segment properties, that saw around 530 units launched with average prices at Rs. 7,800/sft and sizes at 630 sqft.
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