Mumbai's Residential Market to Cross ₹2 Lakh Crore by 2030: JLL Report
Mumbai's residential sales value is expected to surpass ₹2 lakh crore by 2030, driven by increasing demand and investments in the city's real estate sector.
Mumbai Residential MarketReal EstateJll ReportInfrastructure DevelopmentAffordable HousingReal Estate MumbaiAug 29, 2024
The report highlights that Mumbai's residential sales value breached ₹1 lakh crore in 2023, driven by increasing demand and investments in the city's real estate sector. The city's residential market has witnessed significant growth in recent years, driven by factors such as increasing demand for housing, limited supply, and infrastructure development.
The JLL report also notes that Mumbai's residential market is expected to continue growing, driven by increasing demand from end-users and investors. The city's residential market is expected to be driven by the growth of the IT/ITeS sector, which is expected to create new job opportunities and drive demand for housing.
The report also highlights the importance of infrastructure development in driving growth in Mumbai's residential market. The city's infrastructure development, including the construction of new metro lines, roads, and bridges, is expected to improve connectivity and increase access to employment and education opportunities.
According to the report, the Mumbai Metropolitan Region (MMR) is expected to witness significant growth in the residential market, driven by the development of new infrastructure projects. The MMR is expected to account for a significant share of the total residential sales value in Mumbai by 2030.
The JLL report also notes that the residential market in Mumbai is expected to be driven by the growth of the affordable housing segment. The report highlights that the affordable housing segment is expected to account for a significant share of the total residential sales value in Mumbai by 2030.
Overall, the JLL report highlights the growth potential of Mumbai's residential market, driven by increasing demand, infrastructure development, and the growth of the IT/ITeS sector.
About JLL JLL is a leading professional services firm specializing in real estate and investment management. The firm provides a range of services, including investment management, property management, and advisory services, to clients across the globe.
Mumbai is the financial capital of India and is home to a large number of multinational companies and financial institutions. The city's residential market has witnessed significant growth in recent years, driven by increasing demand for housing and limited supply.
Frequently Asked Questions
What is the expected growth rate of Mumbai's residential market by 2030?
According to the JLL report, Mumbai's residential sales value is expected to cross ₹2 lakh crore by 2030.
What are the key drivers of growth in Mumbai's residential market?
The JLL report highlights that the growth of the IT/ITeS sector, infrastructure development, and increasing demand from end-users and investors are the key drivers of growth in Mumbai's residential market.
What is the expected share of the affordable housing segment in Mumbai's residential market by 2030?
According to the JLL report, the affordable housing segment is expected to account for a significant share of the total residential sales value in Mumbai by 2030.
What is the significance of infrastructure development in driving growth in Mumbai's residential market?
The JLL report highlights that infrastructure development is expected to improve connectivity and increase access to employment and education opportunities, driving growth in Mumbai's residential market.
What is the expected growth rate of the Mumbai Metropolitan Region (MMR) in the residential market?
According to the JLL report, the MMR is expected to witness significant growth in the residential market, driven by the development of new infrastructure projects.
Related News Articles
Larsen & Toubro's 3D Printing Luxury Villas: A Game-Changer in Real Estate
Larsen & Toubro (L&T), one of India's leading engineering and construction firms, is setting a new benchmark in the real estate sector by 3D printing luxury villas in Bengaluru.
North America Commercial Real Estate Software Market Size, Share, and Trends
The North America Commercial Real Estate Software Market is expected to grow at a CAGR of xx.x% from 2024 to 2031, driven by increasing demand for smart building solutions and technological advancements in the real estate industry.
Macrotech's Massive Land Acquisition for Rs 166 Billion Housing Projects in Mumbai Metropolitan Region
Macrotech Developers, the renowned Mumbai-based real estate firm behind the Lodha brand, has made a significant move by acquiring seven land parcels across the Mumbai Metropolitan Region. This strategic acquisition is set to bolster their ambitious Rs 166
Elan Group Raises INR 1,200 Crore from Kotak Real Estate Fund
Elan Group, a prominent player in the real estate market, has successfully secured an investment of INR 1,200 crore from the Kotak Real Estate Fund. This substantial investment will provide a significant boost to the company's ongoing and future projects,
Godrej Properties' Evergreen Square Project in Pune Reaches ₹1,000 Crore Sales Milestone
Godrej Properties has achieved a significant milestone with its Evergreen Square housing project in Hinjawadi, Pune, selling inventory worth over ₹1,000 crore. The project, launched in November 2024, highlights the company's strong presence in Pune's resi
Sky City Mall: A New Shopping Haven in Mumbai's Borivali
Mumbai's retail landscape is set to transform with the grand opening of Sky City Mall, a sprawling 12.07 lakh square foot shopping destination in Borivali, developed by Oberoi Realty as part of a 25-acre integrated real estate project. The mall promises t