Mumbai Accounts For 67% Share Of New Launches of Homes In Mumbai Metropolitan Region
New Delhi: Mumbai Metropolitan Region saw new launches of residential property to the tune of 14,040 units in the third quarter (Q3) of the current calendar year and Mumbai alone witnessed new supply of 9,390 units which translates into 67 percent share, according to ANAROCK property consultants.
The Navi Mumbai real estate market witnessed launch of 2,430 new units and Thane saw launches of 2,220 new units in Q3 of 2019. The number of new launches in Q3 of 2018 in Navi Mumbai was 3,060 units and in Thane it was 2,740 units.
On the sales front, Mumbai alone saw 11,630 units exchanging hands in Q3 of 219 as against 12,750 units in Q3 of 2018, representing a decline of nine percent.
Navi Mumbai witnessed sales of 2,890 units in Q3 of 2019 as compared to 2,740 units in Q3 of 2018, representing a rise of five percent.
Thane witnessed sales of 2,660 units in Q3 of 2019 as against 2,690 in Q3 of 2018, translating into a reduction of meager one percent.
The unsold inventory of housing stock in Mumbai alone stood at 1,46,380 units in Q3 of 2019. It reduced by three percent as compared to Q3 2018 figures.
The unsold stock of Navi Mumbai stood at 39,530 units in Q3 of 2019 as compared to 37,000 units in Q3 of 2018, an increase of seven percent.
The unsold inventory in Thane stood at 34,950 units in Q3 of 2019 as against 35,700 units in Q3 of 2018, a decline of about two percent.