Q3-FY25 Sees 11% Growth in Housing Sales, 5% in Transaction Volumes in Greater Mumbai: Report
Q3-FY25 witnessed a notable 11% increase in housing sales and a 5% rise in transaction volumes in greater Mumbai, despite rising property prices and registered residential transaction values exceeding Rs 1 crore in several micro-markets. Compact homes con
Real EstateAffordable HousingProperty PricesGreater MumbaiHousing SalesReal Estate MumbaiMar 13, 2025
The demand for compact homes, particularly in the affordable and mid-segment categories, has been a key driver of this growth. Homebuyers are increasingly looking for smaller, more affordable units that offer good value for money and are located in strategic locations. These compact homes are often part of larger residential complexes with modern amenities and facilities, making them attractive options for young professionals and families.
Despite the increase in property prices, the market has remained resilient. This resilience is attributed to several factors, including favorable government policies, low interest rates, and a robust economy. The government's initiatives to boost the real estate sector, such as the Pradhan Mantri Awas Yojana (PMAY) and the Real Estate (Regulation and Development) Act (RERA), have played a crucial role in building trust and transparency in the market.
The report also highlights the importance of location in driving sales. Micro-markets with good connectivity, such as Andheri, Bandra, and Borivali, have seen the highest growth in both sales and transaction volumes. These areas are well-connected to key business districts and offer a range of infrastructure facilities, making them popular among homebuyers.
However, the growth in property prices has raised concerns about affordability. While the demand for compact homes remains strong, there is a need for developers to focus on creating more affordable housing options to ensure that the market remains accessible to a broader segment of the population. The government and private developers are working together to address this issue by introducing schemes and incentives to promote affordable housing.
In conclusion, Q3-FY25 has been a positive quarter for the real estate market in greater Mumbai. The growth in housing sales and transaction volumes, despite rising property prices, indicates a robust and resilient market. Compact homes continue to be a popular choice, and strategic locations are key to driving this growth. The government's policies and initiatives have played a vital role in sustaining this momentum, and the focus on affordable housing will be crucial for the market's long-term health and accessibility.
Frequently Asked Questions
What is the percentage increase in housing sales in greater Mumbai in Q3-FY25?
Housing sales in greater Mumbai increased by 11% in Q3-FY25.
Which segment of homes is in high demand in greater Mumbai?
Compact homes, particularly in the affordable and mid-segment categories, are in high demand in greater Mumbai.
What factors are contributing to the growth of the real estate market in greater Mumbai?
Favorable government policies, low interest rates, and a robust economy are contributing to the growth of the real estate market in greater Mumbai.
Which micro-markets in greater Mumbai have seen the highest growth in sales and transaction volumes?
Micro-markets with good connectivity, such as Andheri, Bandra, and Borivali, have seen the highest growth in sales and transaction volumes.
What are the concerns regarding the rise in property prices?
The rise in property prices has raised concerns about affordability, and there is a need for developers to focus on creating more affordable housing options to ensure the market remains accessible to a broader segment of the population.
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