Top performers in MMR as per rental value

Q: Good morning guys,
Which localities in MMR are the top performers as per the rental value in 2015?

Dhiraj,

7th December 2015

Rentals in Mumbai

top rental markets in mmr

rental values in mmr

residential rental market of mmr

highest rental gainer in mmr

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Replies (4)

Hi Folks,
Which are the major segments where the residential demand has maximum seen and what were the reason?

bablu pathak,

16th December 2015

Comment

Good Evening Bablu!!!
The market witnessed maximum demand in the affordable and mid-income segments (Rs 25 lakh to Rs 60 lakh), while supply was for properties priced at Rs 1 crore and above.

The 50 basis points repo rate cut by the RBI and the resulting expectation of decline in home loans rates inspire some happiness amongst potential buyers.

Ramesk Polekar, Mumbai

16th December 2015

Hi Folks,
Specially, a rise of 4% in Jul-Sep 2015, as compared to the Jan-Mar 2015, Thane's rental market performed the best amongst all the zones in Mumbai. Ghodbunder Road and Kalyan West, which emerged as the top grosser in Thane and areas beyond, saw values rising by a whopping 10% since March 2015.

Rishi Dev,

16th December 2015

Comment

There were reason of emerging these localities that involves the proposed metro corridor, entry in the smart city race, additional Floor Space Index (FSI) of 0.3 as well as rise in office space absorption, have boded well for the city's rental landscape.

Ramesk Polekar, Mumbai

16th December 2015

HI,
Which are the key influencers of significant rental price movements in Mumbai?

Rishi Dev,

16th December 2015

Well Rishi,
These involves, Infusion of Rs 1060 crore by India's largest commercial realty owner, Blackstone, Development of Taloja-Kharghar-CBD Belapur metro corridor, Commencement of Phase II of the monorail project between Wadala and Jacob Circle and Upcoming Navi Mumbai Airport Influence Notified Area (NAINA).

Ramesk Polekar, Mumbai

16th December 2015

Hi Ramesk,
But as per my rental property search i found that the highest rental gainer was South Mumbai's Breach
Candy, which witnessed values rising to the tune of 13% during the period.

Sujan Mitra,

7th December 2015

Comment

It's true Sujan,
And if you look towards Mulund and Mulund East followed by Beach candy with a growth of 7% each. The localities mainly house the business class with an annual income of Rs 20-40 lakh. The rental rates grew in anticipation of the Ghatkopar-Mulund metro corridor, and the availability of quality but affordable homes.

Rajatrawal, Mumbai

7th December 2015

Why there is a minimal growth in localities like Mumbai Harbour and the Central Suburbs while the Andheri-Dahisar belt remained stable. Rental values in South and South West Mumbai declined by 1% and 2% respectively.

Sujan Mitra,

7th December 2015

Hi Dhiraj,
Beach candy, Mulund , Mulund West, Gamdevi, Mira Road, Goregaon East, Malabar Hill and Deonar are the are the top residential rental markets in MMR. Between Jan-March 2015 and July-Sept. 2015 residential rental markets remain stagnant, although certain pockets witnessed a strong point in rental rates either due to their great deal of money or affordability parts.

Sujan Mitra,

7th December 2015

Comment

Right Sujan,
One can also go for rental properties in Mira Road as rental values in Mira Road as a quality apartment by a reputed builder can be availed at Rs. 17000-20000/month. Mira Road and areas beyond saw rental values strengthening by 2% in the first three quarters of 2015.

Ramesk Polekar, Mumbai

7th December 2015