Real Estate News

Mumbai home launches up 29%, sales up 23% in first half of 2016, Knight Frank

In a complete contrast of pan-India trend of lower number of launches, Mumbai Metropolitan Region has witnessed a 29% on-year rise in number of residential launches during the first half of 2016, showed a Knight Frank India report. The residential market of MMR is on a new growth path. New launches and sales are 29% and 23% higher respectively in H1 2016 Y-o-Y. In MMR, mid and budget segments are driving the demand; while premium residential segment is yet to pick up steam. Residential property prices in the region are witnessing time correction with unsold inventory going down by 20% over the last two years. Source: ET Bureau, Jul 04, 2016 << Back