MMR housing sales exceeded new launches in the last one year. The region saw total housing sales of approx. 58,170 units in the pandemic period between Q2 2020 to Q2 2021, while new launches stood at approx. 41,500 units.
The previous desire to live in city centres - closer to workspaces, children’s school, etc. - has reduced markedly with the advent of WFH and e-schooling options in the post-pandemic world.
The stamp duty cut significantly stimulated housing demand in the city. The government would do well to seriously consider extending it to keep the property sales momentum - and registrations revenue - going.
2020 kick-started a trend reversal wherein larger homes - spacious enough to accommodate home offices and online study spaces for children - began to be in higher demand
On an average, 1/3rd of the overall project cost a real estate developer incurs in Mumbai goes towards various premiums. In one notable case, for a plot of land valued at INR 5 crore in Bandra, the developer had to pay premiums to the tune of approx. INR 6 crore to the BMC.
ANAROCK-Mace report titled ‘Navigating the India Data Centre Lifecycle – Trends & Perspectives’ reveals that India will see at least 28 large hyperscale data centres constructed over the next three years
South-Central Mumbai localities witnessed luxury home sales worth INR 500 Cr last month (October). In 2019, the corresponding period saw luxury sales worth approx. INR 150 crore, thus improving by >230% in the year.
If not for COVID-19, the top 7 cities were to see the delivery of nearly 4.66 lakh units by 2020-end. Launched after 2013, many of the projects were in the final leg of completion
From a more than 100% difference between the two rates in certain areas in Mumbai, Pune, Gurgaon, etc. in 2015, some localities presently show a mere 6% variation
Delhi vs Mumbai - the nation’s financial capital or the seat of power and politics? Which is the better city to live, travel or invest in?