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
Warning to Party Workers: Steer Clear of Real Estate Developers and Criminals
Trinamool Congress MP Saugata Roy cautions party workers against dealing with unscrupulous individuals, vows to rectify past mistakes
Pune: Housing Project Beneficiaries in Pimpri Chinchwad Urged to Complete Lease and Registration Process
Pune Housing Project Beneficiaries in Pimpri Chinchwad Required to Complete Lease and Registration Process, PMRDA Urges Parties to Finalize Procedures
RBI Likely to Maintain Status Quo as MPC Meeting Begins; Real Estate Sector Hopes for Repo Rate Cut
For the real estate market, a cut in the repo rate would result in lower interest rates on home loans, making EMIs more manageable for borrowers.
Mumbai Property Registrations Surge by 5% in November: Knight Frank Report
Despite a decline from October's 12,960 units, the demand for premium properties and larger living spaces in Mumbai's real estate market continues to rise, according to a recent report by Knight Frank.
Woman and Two Others Extort Rs 36.89 Lakh from 60-Year-Old Real Estate Executive in Mumbai
According to police sources, the 60-year-old man, who works for a prominent real estate company in Mumbai, was in touch with the accused woman for several months. The woman and her accomplices used threats and blackmail to extort a total of Rs 36.89 lakh
India's Real Estate Sector Soars in 2024: A Year of Growth, Innovation, and Broker Empowerment
Mumbai, Maharashtra - The year 2024 has seen remarkable progress in India's real estate market, with significant growth in office spaces, residential sectors, and investment flows. This article explores the key developments and the pivotal role of brokers