In Mumbai, higher participation by real estate developers, surge in offered projects, and uptick in new launches are key positives for home buyers.
Quoted prices for homes are up by 15-25 per cent YoY; completion premium is at 20 per cent, festive discount is limited. In sum, price-based affordability is yet to improve in Mumbai.
Competitive mortgage rates are down by 25-75bp. Waivers are on offer. Very few Mumbai projects are on ready possession; average 6-12 month delay in old projects; completion skewed towards FY15 or later - a harbinger of no immediate price correction.
