Home Buyer’s Guide To Mumbai

The Mumbai residential market has pulled off yet another robust performance in the second quarter of 2022, with the launch of 20,000-plus new residential units, a 5 per cent quarterly rise, maintaining a strong growth momentum from the previous quarter. Looking into the zone-wise share of new launches, central suburbs dominated the supply of new residential units, followed by western suburbs. Interestingly, despite several headwinds, such as higher stamp duty, imposition of metro cess and rising lending rates, the Mumbai realty market displayed remarkable resilience. However, given Mumbai’s rising property prices, demand for larger configurations in Q2 seems muted, as 3-BHK and configurations above that comprised only 13 per cent of the total online searches, while demand for 1-BHK and 2-BHK saw a significant jump.