Anuj Puri, Chairman – ANAROCK Property Consultants
On the back of critical policy reforms like DeMo, RERA and GST, 2018 is seeing both sales and new supply picking up across cities. Interestingly, the Mumbai Metropolitan Region (MMR) leads this trend. ANAROCK data indicates that out of the total new housing supply of around 50,100 units in Q2 2018 across the top 7 cities, MMR saw the highest number of new launches with nearly 13,600 new units – a 59% increase against the preceding quarter.
In terms of sales too, MMR clocked the maximum housing sales with approximately 15,200 units being sold in Q2 2018 – an increase of 26% against Q1 2018.
MMR’s top 3 micro markets across budget ranges 2017 – Q2 2018:
Affordable Segment (< ₹50 lakh)
Mid Segment (₹50 lakh – ₹1 Crore)
(Source: ANAROCK Research)
Luxury Segment (₹1 Crore – ₹2.5 Crore)
Ultra-Luxury Segment (> ₹2.5 Crore)
Maharashtra has emerged as one of the most active states in RERA implementation, and MahaRERA has been the primary driving force behind MMR’s regained momentum in 2018. In over a year, the authority has registered more than 17,220 promoters and 15,550 agents, the highest across the country.
While the proposal to levy a surcharge of 1% on stamp duty (increasing to 6% from the existing 5%) could prove to be a slight dampener in the short-term, the decisive return of buyers to the market is beyond question.
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