MMR’s Most Vibrant Housing Markets – Affordable to Ultra Luxury

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·         Among 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

Anuj Puri
Chairman, ANAROCK Property Consultants

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 – Q2 2018: 

Affordable Segment (< Rs 50 lakh)

  • Rasayani in Navi Mumbai saw the launch of nearly 2,410 units, with average prices being ₹5,100/sft and average property size being 450 sft
  • Palghar in Mumbai saw launch of nearly 1,710 units, with average prices hovering around ₹4,550/sft and average property sizes at around 380 sft
  • 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 ₹6,700/sft and average carpet area is 380 sft

Mid Segment (Rs 50 lakh – Rs 1 Crore)

  • Kandivali in Mumbai saw as many as 2,300 units launched since 2017, with average prices at ₹20,000/sft and average size of 390 sft
  • Dahisar East in Mumbai saw launch of nearly 710 units with average prices at ₹18,000/sft and size at 470 sft
  • 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 sft 
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