Mumbai Property Market is seeing good traction in New Homes / Under Construction Projects Segment as the growing metropolis new generation plans to be in New Homes.
Our Honorable Prime Minister said in his speech on 15th August 2022, "that India has an Aspirational Society." which resonates with the trends in the real estate market in Mumbai.
Home Buyers in Mumbai have opted for Eastern Suburbs over the past few years purely for the reason of connectivity and better quality of life. Eastern Suburbs offers good green and clean land parcels and hence the development opportunities are much better for large projects. Runwal Bliss, Kanakia Future City etc are all on large properties having scope for larger open areas etc. All the projects developed by Ajmera, Hiranandani, Runwal, Kanakia, Adani, Sheth and L&T Group in the region are getting good traction, the plannings are efficient and the prices are conducive for the Home Buyers and hence the sales volumes are what they are.
The Sales volumes across these projects has been very good and as per Data Analysis done by Index Tap - CRE Matrix for the Eastern Suburbs market. The cumulative sales for the period from April 2022 to June 2022 has been approximately 1500 Cr which is pretty good considering the strong demand from Thane and Central Suburbs/Western Suburbs.
Ajmera Manhattan - Wadala - Sales - Rs.204 Cr
Hiranandani Highland - Powai - Sales - Rs.200 Cr
L&T Emerald Isle - Powai - Sales - Rs.182 Cr
Mars - Suncity Housing - Powai - Rs.143 Cr
Runwal - The Sanctuary - Rs.116 Cr
Kanakia Future City - Rs.111 Cr
Hiranandani Adonia - Rs.110 Cr
Runwal Bliss - Rs.100 Cr
Sheth Montana - Rs.99 Cr
Runwal Avenue - Rs.96 Cr
The Metro connectivity and the new bridges on the Eastern Express Highway are easing the traffic traveling towards the business hubs of BKC, Powai, Andheri East, Lower Parel and Kalina and going to South Mumbai via Eastern Free Way is simpler. By the time between 2024 and 2026 which is the time most of these projects will be completed the buyers will get tremendous advantage of connectivity as by then the Trans Harbour Sea Link, Coastal Roads, All Metros should be done in Mumbai City.
The Eastern Suburbs property market prices will surely gain some appreciation is the connectivity becomes better and better.
Special Thanks to entire Index Tap and CRE Matrix Team in Mumbai to share these most Important information and in their efforts to keep the Home Buyers and other stake holders like Mumbai's Channel Partners to be informed about the latest trends in the Mumbai Property Market