Mumbai Leads In MMR In New Unit Launches
OF The Total 14,040 Units Launched In MMR, Mumbai share stood at 9,390 Units.
Mumbai still leads in Mumbai Metropolitan Region when it comes to new unit launches. Of the total 14,040 new units launched in entire MMR in Quarter 3 of 2019, Mumbai witnessed new supply of 9,390 units comprising 67% share, followed by Navi Mumbai which saw launch of 2,430 new units (17% share) while Thane saw 2,220 units launched during the period. This is what a report by Anarock Property Consultants says.
Anuj Puri chairman, Anarock Property Consultants said, “On year-on-year basis, new stock in Mumbai reduced by 33%. It was 14,040 units in Quarter 3 of 2018, exactly the same number of launches that is seen by entire MMR in this quarter. Quarterly decline recorded was 38%.”
The report stated that, Navi Mumbai saw its new supply reduce by 21% in the third quarter this year – from 3,060 units in Quarter 3 of 2018 to 2,030 units in Quarter 3 of 2019. On quarter-on-quarter basis, new supply declined by 34% and was 3,710 units in Quarter 2 of 2019.
Thane saw its new stock decline by 19% on year-on-year basis. It was 2,740 units in Quarter 3 of 2018 and now stands at 2,220 units in Quarter 3 of 2019. It saw 48% decline over the preceding quarter that quarter 2 of 2019.
Of the total 17,180 units sold in entire MMR in Quarter 3 of 2019, Mumbai witnessed housing sales of 11,630 units comprising over 68% share in entire region. On year-on-year basis, the city saw its sales decline by 9%. It was 12,750 units in Quarter 3 of 2018. On quarterly basis, housing sales in Mumbai fell by 22% – from 14,850 units in Quarter 2 of 2019.
Thane witnessed yearly reduction of meagre 1% in Quarter 3 of 2019 – from 2,690 units in Quarter 3 of 2018 to 2,660 units in Quarter 3 of 2019. Q-o-Q, the city saw 16% decline in housing sales. Approx. 3,170 units were sold in Thane in Quarter 2 of 2019.
At the same time Navi Mumbai saw housing sales rise yearly by 5% – from 2,740 units in Quarter 3 of 2018 to 2,890 units in Quarter 3 of 2019. However, on quarter-on-quarter basis, sales declined by 13% from 3,340 units in Quarter 2 of 2019.
A lot of unsold stock still remains. As on Quarter 3 of 2019, MMR had an unsold stock of nearly 2,20,870 units. Of this, Mumbai comprised 66% share with approx. 1,46,380 unsold units. On yearly basis, the city was able to shed its unsold stock by 3% while quarter-on-quarter basis it only saw 1% reduction in the unsold stock.
Thane has total unsold stock of 34,950 units as on Quarter 3 of 2019, declining by 1% on quarterly basis and by 2% on year-on-year. Unsold stock as on Quarter 3 of 2018 was 35,700 units approx.
Navi Mumbai’s unsold inventory is at 39,530 units in this quarter. Quarter-on-quarter basis, inventory declined by 1% from 39,990 units in Quarter 2 of 2019. On yearly basis, the city saw its unsold stock pile by 7%. Unsold inventory was 37,000 units in Quarter 3 of 2018.