The second highest number of 4,357 units were sold at prices between Rs 50 lakh to 1 crore, according to a report by Liases Foras
In the last quarter of financial year 2018-19 in Mumbai Metropolitan Region (MMR), a total of 18,332 units of homes were sold. Of these, the maximum number of 5,968 units were sold at prices between Rs 25-50 lakh. The second highest number of 4,357 units were sold at prices between Rs 50 lakh to 1 crore, according to a report by Liases Foras — a real estate research company.
The numbers when compared to the corresponding period of the previous financial year (Q2 of 2017-18), when only 16,205 units were sold, reveal that the trend is going upward.
According to the report released on Friday, 3,075 units of homes were sold at prices under Rs 25 lakh, while the figure for homes priced between Rs 1 crore to Rs 2 crore stood at 3,029. Only 1,903 homes sold in MMR in the previous quarter were priced above Rs 2 crore.
Among the tier one cities in the country, the report says, MMR has the highest contribution to sales in the affordable segment (less than Rs 25 lakh) with 3,075 units which is 26 per cent of total sales. It is followed by Ahmedabad with 2,464 units (21 per cent) , NCR with 1,967 units (17 per cent) and Pune with 1,701 units (14 per cent) sales.
Even the new supply in MMR region has gone up. 44 per cent of the total new launches were priced between Rs 25-50 lakh, and 24 per cent of these were priced between Rs 50 lakh to 1 crore.
The weighted average price in the market, however, remained stagnant. The unsold stock in the Q2 of 2018-19 as per the report remained at 2.71 lakh units.
The report states, “Though the market has turned sluggish due to NBFC crisis at present, sales in Q2 18-19 was better than Q2 17-18... MMR contributed almost a quarter of the total quarterly sales in tier-I cities.”
Q2 2018-19 SALES
Total units sold: 18,332
Houses priced between Rs 25-50 lakh: 5,968
Prices between Rs 50 lakh to Rs 1 Crore: 4,357
Priced below Rs 25L: 3,075
Priced above Rs 1 crore and below Rs 2 crore: 3,029
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