Mumbai's Residential Market to Boom: Sales Value to Cross Rs 2 Lakh Crore by 2030
Mumbai's residential market is expected to witness a significant surge in sales value, driven by infrastructure developments such as the Mumbai Trans Harbour Link (MTHL) and Navi Mumbai Airport.
Mumbai Residential MarketJllInfrastructure DevelopmentUrbanizationEconomic GrowthAffordable HousingReal Estate MaharashtraAug 29, 2024
The development of projects such as Mumbai Trans Harbour Link (MTHL), Navi Mumbai Airport, and the proposed Mumbai-Ahmedabad bullet train will further boost the city's residential market. These infrastructure projects will not only improve connectivity but also create new economic opportunities, leading to an increase in demand for housing.
The report also notes that the Mumbai Metropolitan Region (MMR) will continue to be a major driver of growth for the city's residential market. The MMR, which includes areas such as Thane, Navi Mumbai, and Kalyan, has witnessed significant development in recent years, with many new residential projects being launched.
Another factor contributing to the growth of Mumbai's residential market is the increasing demand for housing from the IT/ITeS sector. The city is home to many major IT companies, and the sector is expected to continue to drive demand for housing in the coming years.
The report also highlights the importance of affordable housing in Mumbai's residential market. With the government's focus on affordable housing, many developers are launching projects in this segment. This is expected to lead to an increase in sales value, as more people will be able to afford housing.
In conclusion, Mumbai's residential market is expected to witness significant growth in the coming years, driven by infrastructure development, urbanization, and economic growth. The city's sales value is expected to cross Rs 2 lakh crore by 2030, making it one of the largest residential markets in the country.
About JLL JLL is a leading real estate consultancy firm that provides a range of services, including advisory, valuation, and management. The firm has a strong presence in India and provides research and analysis on the country's real estate market.
Frequently Asked Questions
What is the expected sales value of Mumbai's residential market by 2030?
Rs 2 lakh crore
What are the major drivers of growth for Mumbai's residential market?
Infrastructure development, urbanization, and economic growth
What is the role of the IT/ITeS sector in Mumbai's residential market?
The sector is expected to drive demand for housing in the coming years
What is the importance of affordable housing in Mumbai's residential market?
Affordable housing is expected to lead to an increase in sales value, as more people will be able to afford housing
Who is the author of the report on Mumbai's residential market?
JLL, a leading real estate consultancy firm
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