MMR Housing Report 2024: Rising Sales Amidst Declining Launches

CREDAI-MCHI and CRE Matrix released the MMR Housing Report for FY 2024, highlighting significant trends in Mumbai Metropolitan Region's real estate market. The report shows a 5% increase in overall housing sales despite a 22% decline in new launches, with notable increases in South Mumbai and Navi Mumbai.

Mumbai, July 1, 2024 – The release of the MMR Housing Report for FY 2024 by CREDAI-MCHI and CRE Matrix provides crucial insights into the Mumbai Metropolitan Region's dynamic real estate market.

This comprehensive report reveals a 5% rise in overall housing sales despite a significant 22% slump in new housing launches, a testament to the robust demand for residential properties in the region. South Mumbai and Navi Mumbai are particularly noteworthy, showing a 41% and 22% surge in sales respectively.

Domnic Romell, President of CREDAI-MCHI, emphasized the report's role in offering accurate, actionable data for stakeholders, while Abhishek Kiran Gupta of CRE Matrix highlighted the strong demand-supply ratio and upcoming developments like the Aqua Metro line in Navi Mumbai. The report underscores varying performances across different regions, with South Mumbai's redevelopment projects and Navi Mumbai's infrastructure advancements leading the charge.