4 Real Estate Stocks to Buy in Mumbai as Housing Market Sees a Surge
Real estate developers focusing on Mumbai market such as Godrej Properties, Oberoi Realty, Lodha, and Sunteck are expected to do well going ahead as housing registration data in Mumbai comes in strong.
Real EstateMumbaiGodrej PropertiesOberoi RealtyLodhaSunteck RealtyHousing MarketRbiInterest RatesReal EstateJul 02, 2024
The average ticket size also inched up 4 per cent YoY for the month. Net-net, the year 2024 has seen registrations of 72,492 units in Mumbai so far, translating to a growth of 16 per cent YoY. By value, sales at Rs 97,900 crore in 2024 are up 5 per cent YoY year-to-date. Nuvama believes that with the RBI pressing the pause button on rate hikes, Mumbai’s realty sales would improve going ahead, benefiting Mumbai-based players such as Lodha, Oberoi, Rustomjee, Godrej Properties, and Sunteck.
The buoyancy in sales is expected to sustain driven by robust business development targets, pickup in launches aided by cash flow improvement, interest rate stabilisation, diversification, and market share gains. Increase in wages, employment opportunities, and return-to-office are likely to keep homebuying activity healthy. Godrej Properties, Oberoi Realty, Macrotech Developers (Lodha), and Sunteck Realty are among the Mumbai-based developers expected to benefit from strong housing sales in Mumbai. Nuvama notes that 91 per cent of the Mumbai properties registered in June were in the western and central suburbs, with homes of 500–1,000 sft being the preferred choice of buyers, constituting 46 per cent of the total registrations during the month.
Frequently Asked Questions
Which real estate developers are expected to do well in Mumbai?
Godrej Properties, Oberoi Realty, Lodha, and Sunteck Realty are among the Mumbai-based developers expected to benefit from strong housing sales in Mumbai.
What is the growth rate of housing units registered in Mumbai in 2024?
The year 2024 has seen registrations of 72,492 units in Mumbai so far, translating to a growth of 16 per cent YoY.
What is the preferred choice of buyers in terms of home size?
Homes of 500–1,000 sft were the preferred choice of buyers, constituting 46 per cent of the total registrations during the month.
What is driving the buoyancy in sales in Mumbai's real estate market?
The buoyancy in sales is expected to sustain driven by robust business development targets, pickup in launches aided by cash flow improvement, interest rate stabilisation, diversification, and market share gains.
Which areas in Mumbai saw the most property registrations in June?
As much as 91 per cent of the Mumbai properties registered in June were in the western and central suburbs, with South Mumbai contributing 7 per cent to the new registrations during the month.
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