Residential bookings in Mumbai region fall 78% in February-March: Report

The report noted that RBI's three month moratorium on term loan instalments is expected to release some pressure off the developers.

Residential bookings witnessed a 78 per cent fall in the Mumbai Metropolitan Region between February and March as compared to January this year, owing to the adverse impact of the coronavirus outbreak on the real estate sector, says a report.

According to a report by real estate developers' association Credai-MCHI, as compared to January 2020, bookings of residential units have fallen by 78 per cent in 30 days from February 2020 last week to March third week.

The report, which has been conducted with insights from over 100 Mumbai Metropolitan Region (MMR) developer members to ascertain impact of Covid19 on MMR Real