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.
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