Mumbai sees higher participation by real estate developers
Real Estate

Mumbai sees higher participation by real estate developers

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.

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.

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