Mumbai's Housing Market Sees 10% Drop in Sales, New Launches Rise in MMR
Housing sales in Mumbai Metropolitan Region (MMR) fell 10% in Q3 2024, while new launches rose 4.8%. Sales in Mumbai, Thane, and Pune declined, but Navi Mumbai saw a 4% increase.
MumbaiMmrPuneHousing SalesNew LaunchesReal EstatePropequityReal Estate MumbaiSep 23, 2024
While sales in Mumbai and Thane fell by 17% and 10% respectively, Navi Mumbai saw a 4% increase in sales. New launches in MMR, however, rose by 4.8% to 33,528 units in Q3 2024, up from 31,995 units in Q3 2023. Mumbai and Thane saw new launches rise by 18% and 11% respectively, while Navi Mumbai and Pune saw a decline of 19% and 12% respectively.
PropEquity tracks housing supply and absorption data in major cities across India, including NCR, Mumbai, Navi Mumbai, Thane, Pune, Bengaluru, Hyderabad, Chennai, and Kolkata. Samir Jasuja, CEO & Founder of PropEquity, commented,
Frequently Asked Questions
What was the decline in housing sales in MMR in Q3 2024?
The decline in housing sales in MMR was 10% in Q3 2024.
Which city saw a 4% increase in sales in Q3 2024?
Navi Mumbai saw a 4% increase in sales in Q3 2024.
What was the decline in new launches in Pune in Q3 2024?
The decline in new launches in Pune was 12% in Q3 2024.
What is the name of the data analytics firm that tracks housing supply and absorption data?
PropEquity is the name of the data analytics firm that tracks housing supply and absorption data.
What is the expected growth of the Indian real estate market in the coming years?
The Indian real estate market is expected to grow significantly in the coming years.
Related News Articles
Reliance Industries Affiliate Acquires Mumbai-based Karkinos Healthcare
Reliance Industries, a leading conglomerate in India, has announced the acquisition of Karkinos Healthcare, a prominent cancer care and technology platform based in Mumbai. This strategic move aims to strengthen Reliance's foothold in the healthcare secto
Mumbai-Based Start-Up Manastu Space Successfully Tests Green Propulsion System in Space
Mumbai-based space start-up Manastu Space has successfully test-fired its home-built green propulsion system, Vyom 2U, on the PSLV Orbital Experimental Module-4 (POEM). The thruster was fired for 30 seconds, tilting the platform by 24 degrees and impartin
Mumbai: Festive Season Boosts High-Value Property Registrations in October 2024
Experts in the real estate sector highlight that residential properties led the growth, accounting for 80% of the total registrations.
Rajasthan Forges New Hospitality Partnerships with Saudi Arabian Firms
Rajasthan's Minister of State for Industry and Commerce, K.K. Vishnoi, led a delegation to Saudi Arabia, where they signed two MoUs in the hospitality sector and invited the country to participate in the ‘Rising Rajasthan Global Investment Summit 2024’.
Noida Authority Files EOW Complaint Against Logix Developers for Real Estate Violations
The Noida Authority has taken a tough stance on real estate irregularities by lodging an EOW (Economic Offences Wing) complaint against Logix Developers. This move signals the authority's commitment to maintaining transparency and accountability in the co
Salsette 27: A Benchmark for Exemplary Real Estate Development in India
Salsette 27, a prestigious Peninsula project, has been awarded a 7-star CRISIL grade for the second consecutive year, solidifying its reputation as a premier real estate development in India.