In 2023, Mumbai's residential market recorded an impressive sales value exceeding ₹1 lakh crore, and projections for 2024 suggest this figure will climb to over ₹1.35 lakh crore. The Mumbai Metropolitan Region (MMR) continues to attract homebuyers and investors, with primary residential market sales in the region expected to cross ₹1.35 lakh crore this year.

The report highlights several key infrastructure projects driving this growth, including the Mumbai Trans Harbour Link (MTHL), Navi Mumbai Suburban Rail, and various Metro lines. These initiatives have significantly improved connectivity between Mumbai, its suburbs, and neighboring cities like Thane and Navi Mumbai, fostering new residential hubs and revitalizing existing ones.

As these projects advance, they are expected to contribute to a surge in residential launches and sales, particularly in Navi Mumbai, Thane, and the Western Suburbs II. The reduced Months To Sell (MTS) inventory, which dropped from 58 months in March 2022 to just 31 months by June 2024, underscores the growing demand and fast-paced sales in the region.

The report also notes a strategic shift in Mumbai’s real estate development from the southern parts of the city to the north and east suburbs. This shift is driven by increased housing demand, enhanced connectivity, and the availability of land. Prominent national and regional developers have recognized Mumbai's potential, choosing it as the launchpad for their residential projects.

As a thriving market with robust infrastructure and sustained demand, Mumbai is set to continue its trajectory as one of India’s most lucrative real estate markets.

Latest Real Estate Projects in Mumbai -

Lodha Bellevue
Rustomjee Cleon
Rustomjee Parishram
Rustomjee Seasons
Rustomjee Stella
Rustomjee Crown
Birla Niyaara
Piramal Aranya
Piramal Mahalaxmi
Shapoorji Pallonji Minerva
Prestige Jasdan Classic
GODREJ FIVE GARDEN
L&T THE GATEWAY
RUSTOMJEE ASHIANA
RUSTOMJEE PANORAMA
SHAPOORJI PALLONJI BKC 9
Rustomjee Ocean Vista
Rustomjee 180 Bayview