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Home > Forum > Mumbai > Real estate News > Mumbai Residential Marketview

Mumbai Residential Marketview

Q: Why the Mumbai residential market witnessed a decline in supply addition and sales activity in the first half of the year?

mumbai real estate
greater mumbai
mumbai realty market
mulund west real estate
kanjurmarg real estate
bhandu
development plan 2034
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Replies (2)
1
During this period some of the famous project launches included the first phase of Runwal Bliss at Kanjurmarg (East) by Runwal Developers and One Spirit which is a part of the One Mumbai development at Mulund (W) by Nirmal Lifestyle. At Thane, projects launched include Dosti Codename Landmark by Dosti Group and Suraksha Realty at Balkum and Suraksha Realty at Ghodbunder Road.
Rubiya


Even a few large sized project launches which are offering more than 500 units by reputed developers were also reported in Thane City and Borivali during the review period. The Western and Eastern Suburbs witnessed balance supply, addition and accounted for a sizeable share of the total supply introduced during the period.
Abhijit Thanki,  Mumbai
13th August 2015


And in the suburban locations, project launches were largely concentrated at Bandra East, Andheri
East in the Western Suburbs and Chembur, Ghatkopar West, Kurla East and Powai in the Eastern Suburbs. Prominent project launches include Kanakia Paris by Kanakia Developers at Bandra East and Godrej Prime at Chembur..
Rubiya,  
13th August 2015


2
The main reason is the uncertainty surrounding the Development Plan 2034 for Greater Mumbai further contributed to muted market moods. Lowered demand levels and the presence of unsold inventory led to a slowdown in new project launches, which dropped by approximately 18% on a half yearly comparison.
Rubiya


Right Rubiya,
The Extended Eastern Suburbs such as Mulund West, Kanjurmarg and Bhandup and Thane City reported for more than 50% of the total units launched during the period. These were largely reduced end segments.
Sujan Mitra,  
13th August 2015


3

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