Real Estate Monthly Tracker For MMR (Aug-Sept,2015)

Q: The real estate monthly tracker for MMR highlights the key trends witnessed in the residential market during August-September, 2015 coupled with infrastructure and government policy updates. It gives a complete city outlook, including the total number of units launched, BHK prices and Typology split, and the most active micro market in terms of new unit supply in the given period. Also, the news around the major transactions and industry buzz are highlighted as far as real estate is concerned.

Manisbapu, Mumbai

29th September 2015

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real estate monthly tracker aug-sept 2015

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most active market in mmr

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Replies (4)

Which are the key projects developing in the MMR and what are the USP of those projects? How much is the per square feet rate is going on?

pradyumanapte, Mumbai

1st October 2015

Comment

Hi Abhilash,
Yes, approvals for tall building in Navi Mumbai have been brought under the scanner due to PIL filed before the Bombay HC, which alleged that the authorities ignored the norm that makes it mandatory for tall buildings.

And now the builders from the key localities and suburbs like Versova, DN Nagar, Malwani, Mahim, Ghatkopar West and Goregaon will have to obtain NOC from The AOI to build high-rise tower taller than 18 storeys.

Abhishke Karule, Mumbai

30th September 2015

Comment

Thanks Kishore,
Is there any infrastructure upgrade in MMR? Kindly update it.

Vinay Dixit, Mumbai

29th September 2015

Comment

Yes, Mumbai Metropolitan Region Development Authority (MMRDA) plans to smoothen commute to BKC through an investment of Rs. 740 crore. This project will include 3-roads: a 1.9 km elevated road from Vakola junction on the western express highway (WEH) to BKC, a dual flyover including a 3.5 km extension of SCLR from Kurla to Vakola on WEH and a 1.1 km arm of extension from CST Road to BKC.

Kishore Pathak, Mumbai

29th September 2015

Thanks once again Kishore...
I heard that Maharashtra Govt. is expected to come up with a policy that will make it mandatory for private developers to transfer a percentage of their housing stock to the Maharashtra Housing and Area Development Authority for providing affordable housing.

Vinay Dixit, Mumbai

29th September 2015

It is true and at the same time Brihanmumbai Municipal Corporation is planning to simplify the process of redevelopment projects on its leasehold plots and set a time limit for granting approvals. The civic body's estate department is expected to modify five key applications related to this process in order to remove agents involved in the procedure for securing approvals.

Suresh,

29th September 2015

Hi all,
Is it mandatory for tall building in Navi Mumbai to set aside at least 15% of the plot area for recreational open space? At the same time builders in certain parts of Mumbai who wants to build high-rises tower i.e. more than 18 storeys will have to obtain a NOC from the Airport Authority Of India (AAI).

Abhilasha, Bangalore

29th September 2015

Hi Manis,
I want to know the most active micro markets in MMR and its current property prices? And why should on invest in those localities?

Vinay Dixit, Mumbai

29th September 2015

Comment

Hi Vinay,
As per data received by commonfloor indicates that Shahapur-2100/sq-ft., Worli-25500/sq-ft., Mumbai Central-40000/sq-ft, Badlapur East-2800/sq-ft., Kharghar-11250/sq-ft., Taloja-4400/sq-ft. are the most active micro markets in MMR.

About Shahapur:- The locality comes under no chemical industry zone and strategically located in the periphery of Kalyan. Because of affordable property price, people are moving towards this locality.

Kishore Pathak, Mumbai

29th September 2015