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Mumbai residential launches down 33% on-year in July-Sept: Report

Thursday, October 3, 2019, 10:58
This news item was posted in Business category and has 0 Comments so far.

New supply of residential apartments in Mumbai, the country’s most expensive property market, declined 33% during the quarter ended September. The city witnessed new supply of 9,390 units comprising 67% share of total supply of 14,040 new units launched in entire Mumbai Metropolitan Region (MMR), showed data from ANAROCK Property Consultants.Navi Mumbai contributed 17% to total launches in MMR at 2,430 new units, while Thane saw 2,220 units launched during the quarter. In July-September 2018, total launches in Mumbai stood at 14,040 apartments – exactly the same number of launches that is seen by entire MMR in the latest quarter this year.As on September end, MMR had an unsold stock of nearly 220,870 units. Of this, Mumbai comprised 66% share with around 146,380 unsold units. On yearly basis, the city was able to shed its unsold stock by 3% while sequentially it only saw 1% reduction in the unsold stock.

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