Nearly 54% of MMR's Housing Supply Below INR 80 lakh - ANAROCK Report
Press Trust of India MUMBAI / --
Mapping Mumbai's emerging suburbs as the new growth corridors
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Anuj Puri, Chairman - ANAROCK Property Consultants said, "In the process of scoping out MMR's new real estate growth corridors, this report clearly illustrates how the rising property prices in Greater Mumbai are leading to a natural housing demand progression towards the peripheral areas. While Mumbai's share in overall launches in MMR declined from 71% in 2013 to 67% in first three quarters of 2018, Navi Mumbai has witnessed an increase in share from 9-17%. Due to the expansion of city limits from Greater Mumbai to the peripheries, more than 1.8 lakh units since 2013 have been launched in the western and central peripheral regions."
Sumit Gandhi, CEO & Director - Asian Business Exhibition & Conferences Ltd (ABECL) says, "As the leading platform for the architecture, building materials and design industry, ACETECH is pleased to partner with ANAROCK in releasing this important report on Mumbai's emerging growth corridors. Our philosophy of bringing change into the industry and making it future ready aligns perfectly with the report's intention to highlight Mumbai's avenues of future real estate growth."
Report Highlights:
The majority of unsold stock in MMR is in Mumbai and its peripheral areas. Thane city and Navi Mumbai account for nearly one-third of the unsold stock in the region - a fairly steady trend over the past 5 years With 15-20% of the overall supply in MMR, Navi Mumbai has clocked the highest price appreciation during the past 5 years Since 2013, nearly 1.8 lakh units were launched in MMR's western and central peripheral - nearly 1/3rd of the overall launches Unsold stock in central suburbs increased from 20,600 units during 2013 to 34,400 units by the end of Q3 2018 Unsold stock in the western peripheral suburbs has declined by nearly 32% till Q3 2018 since 2013 Click here to download the report 'The Peripheries - Greater Mumbai's Future Suburbs'
About ANAROCK Property Consultants Pvt. Ltd.:
Disclaimer: No Business Standard Journalist was involved in creation of this content
