MMR Home Sales Surge in Q1CY24; Thane and Dombivali Lead the Pack

    Date:

    Share post:

    In the first quarter of 2024, the Mumbai Metropolitan Region (MMR) witnessed a significant uptick in residential property transactions, totaling 60,719 deals valued at Rs 54,239 crore. Among the preferred locations for homebuyers were Thane, Dombivali, Mira Road, Virar, Ulwe, and Kandivali.

    Thane West emerged as the top locality, with over 5,000 units sold, amounting to more than Rs 4,948 crore. Following closely behind was Dombivali East, with 2,985 transactions worth Rs 1,296 crore, and Mira Road, reporting 2,848 transactions valued at Rs 1,752 crore.

    The appeal of these areas lies in their diverse property offerings, ranging from affordable to luxurious, coupled with improved infrastructure and transportation facilities, making commuting easier. Additionally, the rapid development of social infrastructure, including schools, hospitals, and shopping centers, has further boosted their desirability.

    In terms of pricing, properties below Rs 50 lakh accounted for the majority of transactions at 51%, followed by properties priced between Rs 50 lakh to Rs 1 crore, constituting 24% of deals. Most transactions involved properties ranging from 0-500 sqft in size, making up 56% of the total.

    The market dynamics indicate that MMR is currently favorable for buyers, with planned infrastructure development, such as upcoming metro lines, highlighting new investment opportunities in emerging micro-markets.

    Among the top performers in Q1CY24 were Macrotech Developers (Lodha), leading in both volume and units sold, followed by Oberoi Realty and Runwal Group, showcasing robust performance in terms of sales value and transaction volume respectively.

    Also read: Upcoming Infrastructure Developments in Mumbai Poised to Drive Real Estate Growth

    Related Posts

    Latest posts

    Maharashtra to Publish Draft RR Rates Online for Public Feedback

    PUNE — In a first, the Maharashtra government has directed the registration department to publish proposed Ready Reckoner...

    India ranks third in global LEED green building certification for 2024

    India has retained its third-place ranking in the U.S. Green Building Council’s (USGBC) annual list of the top...

    Prestige Group Expanding Mall Portfolio with New Projects in Mumbai & Delhi-NCR

    Real estate developer Prestige Group is expanding its retail footprint with new mall projects in Mumbai and Delhi-NCR,...

    RBI Offers Nariman Point Plot to Expand Headquarters

    Mumbai – The Reserve Bank of India (RBI) has offered ₹2,650 crore to Mumbai Metro Rail Corporation Limited...