Anuj Puri, Chairman – ANAROCK Property Consultants
- Among the top 7 cities, MMR saw most new launches – nearly 13,600 units & highest sales at 15,200 units in Q2 2018
- 17,220 promoters and 15,550 agents under MahaRERA – highest RERA registration Pan India
- Stamp duty increase may be a slight dampener in the short-term
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.
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 ranges 2017 –
Anuj Puri, Chairman – Anarock Property Consultants
The eastern corridor of Mumbai – especially the suburbs from Ghatkopar to Mulund and Thane – has been witnessing a major transformation over recent years.
From being a largely industrial belt to developing into a hub for malls and premium residential towers replete with the latest amenities, the area has undergone a tremendous transformation.
Infrastructure projects have always had several positive implications for Mumbai’s real estate market, and what these suburbs are witnessing now is predominantly the impact of a significantly improved infrastructure scenario.
Proximity to the de-facto CBD of Mumbai, i.e. the Bandra-Kurla Complex (BKC), and connectivity to it via the Eastern Express Highway are now major advantages.
LBS Marg is another road through this part of the city which is now a destination of many office, retail and residential developments.
To reach the central business district, residents can get onto the Eastern Freeway and save many precious man-hours annually. The Eastern suburbs now also benefit from proximity and good connectivity to the emerging business district of Navi Mumbai.