MMR realty looks in better shape but NCR, is not far behind. Both have their good and bad points.
By Varun Singh
MMR (Mumbai Metropolitan Region) Realty Vs NCR (National Capital Region Realty. While MMR is doing good, NCR is not far behind.
Figures from a recently released report by Real Estate Research Firm Liases Foras shows the Trend,
For example, when it comes to sales, MMR in the Quarter 3 of 2019-20 witnessed sales of 17,809 units.
In the same time frame NCR witnessed sales of 11,902 units. While both saw a downward movement, there was a sharp contrast even here.
Among the top cities, downward movement was noticed in NCR at 10%, while in MMR it was a mere 1%.
In the category of unsold stock, NCR performed better than MMR. While MMR has 2.93 lakh unsold units, NCR’s figure stood at 1.86 lakh units.
The overall figure of the country shows that there was an increase of 4% in unsold stock when compared to the last year’s figure.
NCR witnessed a drop of 2% in unsold stock, while MMR saw a rise of 1% compared to the last quarter.
Price movement in MMR saw a drop in the last quarter, while it remained same for NCR.
MMR saw a drop of 1% in the prices, NCR saw 0% movement,
QoQ for MMR for Sales and Unsold Stock
- Of the different sub-regions in MMR, maximum increase in sales was observed in New Mumbai (28%) followed by Central Suburb Extended (26%) and Greater Mumbai by 11%.
- Panvel witnessed highest drop in sales of 38% followed by Western Suburb Extended which dropped by 22% and Thane (8%).
- Unsold stock reduced by 3% each in Thane and Panvel followed by Western Suburb Extended with a percent’s drop.
- Unsold stock increased in Central Suburb Extended and New Mumbai by 2% each and by a percent in Greater Mumbai.
YoY for MMR for Sales and Unsold Stock
- Sales increased maximum in Thane and Panvel by 14% and 13% respectively while it decreased maximum in Western Suburb Extended by 17% and Greater Mumbai by 10%.
- Maximum growth in unsold was observed in Central Suburb Extended (26%) and New Mumbai (19%) due to more launches in these regions.
QoQ for NCR for Sales and Unsold Stock
- Sales in NCR had marginally increased in the quarter after consistent drop in last two years.
- Maximum growth in sales was witnessed in Faridabad while it reduced maximum in Greater Noida by 20% and Gurugram by 12%.
- Unsold stock reduced in five major suburbs with Faridabad bearing the highest drop of 9% followed by Bhiwadi (6%) and Noida (5%).
YoY for NCR for Sales and Unsold Stock
- Sales witnessed a significant drop in all suburbs except Faridabad and Gurugram which showed a growth of 81% and 24% respectively.
- Sales declined maximum in Greater Noida (-43%) followed by Ghaziabad (-35%), Noida (-4%) and Bhiwadi (-1%).
- Unsold stock shrunk in Greater Noida, Ghaziabad and Bhiwadi by 11%, 10% and 10% respectively while it increased by 6% in Faridabad and by 3% in Gurugram.