New Real Estate Project Launches in Mumbai Metropolitan Region Uplifting Mumbai Real Estate Market in 2022

As a result of the announcement of multiple new real estate projects in Mumbai in recent months, homebuyers in the Mumbai Metropolitan Area are experiencing an upbeat mood.

In Mumbai, 25,700 new apartments were made available during the second quarter of the year 2022. The following are some of the most popular sites in Mumbai city for launch events.

A quarterly increase of 37% was seen in residential construction in Mumbai during the second quarter of the year 2022, when 25,700 new units were added to the market.

Cushman & Wakefield conducted a study not too long ago and found that the number of launches has surged substantially, growing by 130% in comparison to the previous year.

debuts at several locations in the eastern suburbs as well as in Navi Mumbai.

The number of new products that were released during the first half of 2022 was 105 percent more than the number that was released during the first half of 2021. The western suburbs (with 16%) and the Navi' Mumbai (with 13%) sub-markets came in second and third place, respectively, in terms of the percentage of the total launches that were concentrated in them, after the eastern suburbs and extended eastern sub-markets, which took up 44% of the total for the quarter.

During the second quarter of 2022, sales momentum remained robust despite an increase in the total capital values of residential properties brought on by an increase in the cost of inputs. Since April 1, 2022, a metro cess of one percent was applied to each and every real estate transaction that took place inside the city.

In the most recent quarter, the market was dominated by new items with price points in the midrange and upper ranges.

During the second quarter of 2022, products with price points in the medium to upper range accounted for about two thirds of all new launches. This quarter, upscale

This category accounted for one third of all introductions overall. The area's eastern and western suburbs were home to some of the most active and prosperous markets in the whole region.

This quarter, as a direct result of the increasing cost pressure exerted by input costs, there has been an increase in the value of capital assets. Quoted capital values rose by between 3% and 5% across the board throughout each successive quarter across the whole market. Following the introduction of return to work gettipg policies at all large firms, the number of professionals moving back into urban areas has caused a four to five percent rise in the price of sub-market rental units. It is expected that the present quarterly growth in property prices, including both capital and rental values, will continue.