Property Details

The apartment is located in the premium residential project Godrej Sky Terraces and offers:

• Carpet area: 1,402 sq. ft.
• Total area: 1,516.20 sq. ft.
• Parking: Two car spaces
• Stamp duty: ₹35.90 lakh
• Registration charges: ₹30,000

This purchase follows another major investment by the couple—two apartments in the same building acquired in March 2025 for ₹21.1 crore, indicating a strong long-term real estate bet in the locality.

Why Chembur-Deonar Is Attracting Premium Buyers

Chembur-Deonar has steadily emerged as one of Mumbai’s most strategically located residential zones thanks to its strong connectivity and infrastructure advantages:

• Direct access to Eastern Express Highway and Sion–Panvel Highway
• Connectivity via Eastern Freeway
• Railway access on Harbour Line
• Link to Mumbai Monorail network

Its proximity to major business hubs such as Bandra Kurla Complex, Lower Parel, and Navi Mumbai makes it particularly attractive to professionals and investors. The suburb also offers established social infrastructure, including schools, hospitals, malls, and recreation zones, creating a balanced lifestyle environment.

Celebrity Investments Reflect Market Confidence

High-value property purchases by celebrities and public figures often signal confidence in a micro-market’s long-term prospects. Real estate analysts note that such investments tend to reinforce demand momentum, especially in premium segments where brand-name buyers influence perception and pricing.

Devisha Yadav, a professional dance coach known for maintaining a relatively private lifestyle, has frequently been seen supporting her husband at international cricket matches and IPL games. Her latest purchase underscores the growing trend of affluent buyers investing in spacious, amenity-rich residences within well-connected city neighborhoods.

Also Read: Cricketer Suryakumar Yadav Bought a ₹21.11 Crore Home in Deonar

The post Cricket Star SuryaKumar Yadav’s Wife Devisha Buys ₹7.18 Crore Deonar Apartment appeared first on Square Feat India.

According to official sources, the Commissioner of Metro Rail Safety (CMRS) has granted approval for Phase I of Metro Line 9, covering the 4.5-km stretch between Dahisar and Kashigaon. The corridor is likely to be opened to the public by the last week of January or the first week of February, marking the first instance of metro connectivity reaching the Mira-Bhayandar region.

Metro Line 9 is designed as an extension of Mumbai Metro Line 7 (Red Line) and will provide seamless integration with existing metro corridors, improving access to the Western Express Highway and Andheri. The initial phase will serve key stations including Dahisar East, Pandurang Wadi, Miragaon, and Kashigaon, with subsequent phases planned to extend services further into Bhayandar.

Once operational, even in a limited capacity, Metro Line 9 is expected to significantly reduce dependence on road-based transport and suburban rail, offering faster and more predictable commute options for daily commuters. The phased commissioning also represents a critical step towards building a comprehensive metro network for the northern suburbs, which have historically faced infrastructure constraints despite rapid population growth.

Real Estate Impact Already Visible

Industry stakeholders note that the impending launch has already begun to influence real estate sentiment in the surrounding micro-markets, particularly in areas located close to proposed metro stations.

Jayesh Rathod, Co-Founder & Director, The Guardians Real Estate Advisory, said infrastructure-led connectivity often acts as a catalyst for market transformation. He noted that Metro Line 9’s phased rollout is expected to unlock new micro-markets, ease pressure on congested road networks, and integrate Mira–Bhayandar more closely with Mumbai’s broader economic ecosystem. According to him, improved access to employment hubs via Metro Lines 7 and 2A is likely to attract both end-users and long-term investors, supporting steady residential demand and price appreciation along the corridor.

Echoing similar views, Prashant Sharma, President, NAREDCO Maharashtra, said the commissioning of Metro Line 9 marks a significant milestone in suburban connectivity. He added that even ahead of full operations, the project has generated heightened interest among homebuyers and investors across Dahisar, Mira Road, and Bhayandar. Sharma noted that rapid transit infrastructure enhances confidence in long-term residential and mixed-use development, particularly around station precincts where demand tends to concentrate.

Transit-Oriented Development Gains Momentum

Real estate analysts observe that localities such as Kashigaon and Miragaon are already witnessing increased enquiry volumes and developer activity. Properties located within walking distance of metro stations typically command a premium, and this trend is expected to strengthen as additional phases of Line 9 become operational.

Beyond residential demand, the metro corridor is likely to accelerate transit-oriented development (TOD), encouraging the growth of commercial, retail, and lifestyle infrastructure around key nodes. Such developments can create local employment opportunities and reduce the need for long-distance commuting, enhancing the overall liveability of the region.

While the immediate opening covers only a portion of the planned route, the full impact of Metro Line 9 will unfold as the corridor extends towards Subhash Chandra Bose Stadium and integrates further with Mumbai’s expanding metro network. Over time, the Dahisar–Mira–Bhayandar belt is expected to emerge as a preferred residential alternative, offering improved connectivity, modern infrastructure, and balanced urban growth.

Also Read: India’s First Urban Tunnel Under Rail & Metro Lines: TBM Launch Marks Major Engineering Feat in Mumbai

The post Mumbai Metro Line 9 Nears Partial Launch, Lifting Realty Sentiment in Dahisar–Mira-Bhayandar Corridor appeared first on Square Feat India.

Monthly snapshot (Nov-24 → Nov-25)

Key immediate takeaway: November recorded a healthy recovery in transactions relative to October (+5.3% units) but revenue increased only by ₹3 crore, i.e., effectively flat.

YTD (Jan–November) annual comparatives (2013–2025)

Context: Jan–Nov 2025 totals — 135,807 registrations (+5% YoY) and ₹12,224 crore revenue (+11% YoY). Respectable annual gains, but the late-2025 monthly pattern (flat revenue in Nov despite higher units) shows momentum softening.

Ticket-size and area splits (Nov-24 vs Nov-25)

Ticket size share

Area (unit size) share

Micro-market share (by region)

What the full dataset adds to the interpretation

1. Shift within the mid-market, not an across-the-board upcycle.
   • The share of ₹1–2 crore deals increased (31% → 33%). This means growth is concentrated in mid-tier transactions rather than high-ticket buys. That supports why registrations rose but revenue didn’t proportionally.
2. Luxury is rising but too small to move totals.
   • The ≥₹5 crore segment rose from 5% to 7%, but that slice is still tiny. Even strong luxury sales won’t lift city-wide revenue much unless their absolute numbers grow rapidly.
3. Smaller-to-mid unit sizes still dominate.
   • Units ≤1,000 sq ft account for 84% of registrations (38% up to 500 sq ft + 46% 500–1,000). That composition favors lower ticket sizes per unit, capping revenue growth.
4. Geographic concentration increases market fragility.
   • Western + Central Suburbs = 85% of registrations (Western 56%, Central 29%). Overdependence on a few corridors is risky — any microeconomic shock or supply glut there could dent overall figures.
5. Month-to-month volatility during 2025.
   • Several months show swings: Mar-25 had a spike (15,501 units, ₹1,589 cr) and Sep-25 also lifted revenue; however, late-year months (Oct → Nov) show a pause in revenue improvement despite higher volumes. That inconsistency signals uneven demand and possible churn from developers (discounts, incentives).

So what does flat revenue with higher registrations indicate — the critical read

• Price sensitivity and discounting: Developers may be reducing effective prices, giving concessions or incentives to keep sales moving. That raises unit counts but not the stamp-duty-able transaction value sufficiently to boost revenue.
• Shift to smaller / lower-value inventory: Increased share of 500–1,000 sq ft units and more transactions in the ₹1–2 crore band mean individual ticket sizes are not rising fast enough.
• Selective luxury demand: While luxury appetite exists (≥₹5 cr up to 7%), it’s a small base; hence, it cannot offset the larger mid/affordability segment.
• Stretched affordability at the bottom: The share of sub-₹1 crore transactions has dropped (46% → 42%), which can be read two ways: (a) affordability worsening and buyers inching up to slightly pricier/less affordable options, or (b) displacement of the lowest-end buyers due to price pressure. Both are concerning.
• Market not uniformly healthy: Volume alone is a poor metric of market health; real price discovery and revenue traction are. The revenue flatline amid rising registrations suggests demand is transactional, not value-led — buyers are acting, but not at higher price points. That’s a leading warning sign of price plateauing or an upcoming correction in nominal price growth.

Policy & developer implications (brief)

• For policymakers: If revenue growth stalls even with rising volumes, stamp-duty revenues will not keep pace with expectations. Targeted measures to broaden demand geographically, or to incentivize affordable supply in growth corridors, may be needed.
• For developers: Reliance on incentives to drive bookings hurts long-term pricing. Firms should manage inventory quality and avoid discounting that compresses future margins and market perception.

Conclusion — the blunt, critical line

November 2025’s data is a cautionary tale. Registrations are up relative to October — good on the surface — but revenue barely budged. That divergence is a classic early indicator that the market’s momentum is volume-driven rather than price-driven. Unless November’s pattern reverses into stronger ticket-size growth (sustained luxury volume or genuine price appreciation across mid-tier inventory), Mumbai could see price stagnation and margin pressure for developers next year. In plain terms: the city is selling more homes, but not selling them for more. That’s not a healthy upcycle — it’s a fragile one.

Also Read: Mumbai property registrations in October 2023 surge 26% YoY

The post Mumbai’s November Registrations Rise — But Flat Revenue Signals Cooling Market Under the Surface appeared first on Square Feat India.

Spanning 23.6 km with 20 stations, Metro Line 2B is part of the larger Dahisar–Mandale corridor and is designed to significantly enhance east-west and north-south connectivity. For Chembur, this development marks a turning point, redefining its role within Mumbai’s real estate landscape.

Chembur already boasts impressive infrastructure links including the Eastern Freeway, Santacruz-Chembur Link Road (SCLR), Eastern Express Highway, BKC Connector, and the Monorail. With the addition of Metro Line 2B and other upcoming lines, the suburb is becoming one of the most accessible and mobility-rich locations in Mumbai. This unmatched connectivity enables fast commutes to key commercial zones such as BKC, Andheri, Lower Parel, and the Western Suburbs, making Chembur a natural choice for Mumbai’s working professionals.

Once seen as a peripheral location, Chembur has evolved into a vibrant residential hub. The area’s growing appeal is being driven by its multi-modal transport access, rising young professional population, and an increasing supply of modern housing developments. According to recent market data, property prices in Chembur have appreciated by approximately 8% over the past year.

One such project riding this wave of growth is Chandak Highscape City. Located just minutes from upcoming metro stations, the development is positioned to leverage the location’s rising potential. With contemporary architecture, lifestyle amenities, and strong connectivity, it reflects the aspirations of today’s urban homebuyer.

“Chembur’s transformation has been nothing short of remarkable,” said a spokesperson from Chandak Group. “With Metro Line 2B nearing completion, the area is entering a new phase of growth. We’re witnessing robust demand for our projects here, driven by the promise of infrastructure, accessibility, and future appreciation.”

Experts believe that the completion of Phase 1 of Metro Line 2B could result in property values increasing by 15–20% in the coming years. Traditionally seen as a transitional zone, Chembur is now being recognized as a self-sustaining and aspirational residential destination.

“Infrastructure corridors like Metro 2B are urban catalysts,” said a leading real estate analyst. “Chembur is no longer a spillover market. It’s evolving into a high-potential hub with long-term viability for both end-users and investors.”

With its combination of improved livability, strategic location, and infrastructure-led momentum, Chembur is poised to become one of Mumbai’s most future-ready suburbs. As Metro Line 2B nears completion, stakeholders across the spectrum—from buyers to developers—are eyeing Chembur not just for its present appeal, but for the long-term growth story it represents.

Also Read: Metro Line 3: A Game-Changer for Mumbai’s Real Estate Landscape

The post Metro Line 2B Set to Transform Chembur into Mumbai’s Next Prime Real Estate Hub appeared first on Square Feat India.

Agents from over 150 cities outside Maharashtra — including New Delhi, Gurgaon, Hyderabad, Bengaluru, Ahmedabad, Goa, Patna, Prayagraj, and Jammu — have also registered with MahaRERA, underlining Maharashtra’s position as a hub for property transactions.

 MahaRERA Agent Registration Overview

Maharashtra is the only state in India with such a wide registration base under RERA, reflecting growing transparency and accountability in the sector.

 Area-Wise Agent Registrations in Maharashtra

 Konkan Area (Total: 21,050 Agents)

 Pune Area (Total: 8,205 Agents)

 Nagpur Area (Total: 1,504 Agents)

 North Maharashtra Area (Total: 490 Agents)

 Sambhajinagar Area (Total: 343 Agents)

 Amravati Area (Total: 237 Agents)

 Why Agents Matter in Real Estate

Real estate agents — also referred to as property consultants — are critical in facilitating property sales, especially as a buyer’s first point of contact. Recognizing their role, MahaRERA has mandated training and certification for agents on essential aspects like:

• Model Sale Agreement
• Allotment Letter
• Carpet Area
• Defect Liability Period
• Transparent Pricing Mechanisms

This ensures uniformity and clarity in property transactions, helping buyers make informed decisions.

 Why 18,693 Agents Were De-Registered

The de-registrations were primarily due to:

• Failure to renew registration
• Not completing the mandatory MahaRERA certification

MahaRERA has made certification compulsory to ensure agents are aware of and compliant with the Real Estate (Regulation and Development) Act, 2016.

 Conclusion

With over 50,000 agents registered, Maharashtra reinforces its leadership in India’s real estate regulatory ecosystem. The Mumbai Metropolitan Region remains the epicenter, with more than 11,800 agents from Mumbai City and Suburbs alone. As the market grows more structured, the emphasis on agent training and accountability will be pivotal in protecting buyer interests and ensuring smoother transactions

Also Read: How Many Real Estate Projects Has MahaRERA Suspended In Your District?

The post Maharashtra Leads India with 50K+ Real Estate Agents; Mumbai & Suburbs Contribute 11,822 appeared first on Square Feat India.

Chembur is rapidly emerging as one of Mumbai’s most dynamic and well-connected real estate markets. From a budding residential hotspot to a flourishing micro-market, this eastern suburb has undergone a remarkable transformation, captivating the attention of homebuyers and investors alike. Its strategic location and unprecedented infrastructure growth have positioned it as a key beneficiary of Mumbai’s urban expansion.

With seamless connectivity to major highways, metro corridors, and upcoming transport projects, Chembur’s accessibility has significantly improved, enhancing its livability and investment appeal. This surge in connectivity is driving strong property value appreciation, making it a hotspot for premium housing. As large-scale developments reshape its skyline and demand rises, Chembur is cementing its status as one of Mumbai’s most promising real estate destinations.

Chembur’s Rise: From Emerging Market to Prime Investment Hub

Over the past decade, Chembur has evolved from a relatively underdeveloped suburb into a high-demand residential and commercial hotspot. Its strategic location ensures excellent connectivity to key business districts such as Bandra-Kurla Complex (BKC), Lower Parel, Nariman Point, Andheri, Powai, and Vikhroli. Infrastructure initiatives like the Eastern Express Highway, BKC Connector, and Santacruz-Chembur Link Road have further enhanced this connectivity. Additionally, new roads, metro corridors, and expressways have made commuting seamless, boosting the appeal of this micro-market.

According to recent market reports, property prices in Chembur have increased from approximately ₹20,000 per sq. ft. to ₹35,000 per sq. ft. in just a few years. Experts predict further growth as connectivity continues to improve. With luxury residential projects offering world-class amenities and a superior lifestyle, Chembur has become an attractive option for end-users and investors seeking high returns on investment. The combination of improved infrastructure, strategic location, and premium developments has solidified its position as one of Mumbai’s most promising real estate destinations.

Seamless Connectivity: The Game-Changer for Real Estate Growth

One of Chembur’s biggest advantages is its seamless connectivity to key parts of Mumbai. Infrastructure developments such as the Eastern Freeway, Eastern Express Highway (EEH), and the Santacruz-Chembur Link Road (SCLR) have significantly reduced travel time to business hubs like Bandra-Kurla Complex (BKC), Lower Parel, and South Mumbai. These connectivity upgrades have played a crucial role in boosting real estate demand in the region.

Additionally, the upcoming Metro Lines 2B, 4, and 5 will further enhance Chembur’s accessibility. Metro Line 2B will connect the suburb to BKC and Wadala, while Line 4 will link it to Thane and other emerging business districts. The future Metro Line 5 will extend connectivity to Kalyan, making Chembur a vital transit point for commuters.

Furthermore, the Navi Mumbai International Airport, expected to be operational by 2026, elevates Chembur’s real estate profile. Its strategic location serves as a gateway between Mumbai and Navi Mumbai, making it an ideal choice for professionals and businesses seeking well-connected residential spaces. The introduction of the Mumbai Coastal Road and the Chembur-Kurla Elevated Corridor has significantly enhanced connectivity and reduced traffic congestion, further increasing the appeal of real estate in the region.

Premium Living in High-Demand Micro-Markets

Chembur’s real estate appeal extends beyond connectivity. It offers a rare blend of luxury, space, and exclusivity—qualities that are becoming increasingly difficult to find in Mumbai. Unlike developments in some other city hubs, Chembur boasts wider roads, premium gated communities, and a well-planned residential landscape.

One of the key highlights of Chembur’s residential transformation is the rise of high-end developments catering to discerning homebuyers. The integration of green spaces and modern architecture ensures a holistic and upscale lifestyle.

Another major advantage of Chembur is its well-established social infrastructure. The suburb is home to renowned educational institutions, top-tier healthcare facilities, and premium recreational zones. Institutions such as the Bombay Presidency Golf Club add to the area’s exclusivity, making it a preferred choice for high-net-worth individuals seeking a luxurious living environment. Additionally, the presence of a vibrant café culture, fine dining options, and lifestyle-centric hubs makes Chembur an attractive choice for professionals and young families alike.

Mumbai’s shifting work culture is fueling demand for upscale residences, as professionals prioritize a healthier work-life balance. As a result, areas offering spacious, amenity-rich homes with seamless connectivity to business districts are experiencing a surge in popularity. Chembur’s ability to provide this balance makes it a prime location for those looking to upgrade their lifestyle while making a sound investment decision.

The Future of Real Estate in Chembur

As ongoing infrastructure projects continue to improve connectivity, Chembur is set for long-term property value growth, ensuring a promising ROI for homeowners and investors. Real estate analysts anticipate these developments will further drive up prices, particularly for premium residential projects experiencing rising demand.

Chembur has emerged as one of the key beneficiaries of this trend, with developers crafting ultra-modern residential spaces tailored to evolving homebuyer preferences. This remarkable transformation positions Chembur at the forefront of Mumbai’s luxury residential landscape, solidifying its status as one of the city’s most coveted and upscale neighborhoods.

Thus, Chembur’s transformation into a prime investment hub is a testament to the power of infrastructure-driven growth. With seamless connectivity, luxury living options, and a thriving real estate market, the suburb presents a compelling opportunity for homebuyers and investors alike. Its unique blend of connectivity, urban convenience, and lifestyle-driven appeal ensures it remains a top choice for modern homebuyers.

As Mumbai continues to expand and evolve, Chembur is well-positioned to be at the forefront of this transformation, making now an ideal time to invest in this high-growth micro-market.

For those looking to make a strategic real estate investment, Chembur offers the perfect mix of location, luxury, and long-term value. With property prices expected to continue their upward trajectory, securing a home in this dynamic suburb is not just a lifestyle upgrade—it’s a smart financial decision.

Also Read: Developers have created space and infrastructure for COVID19 Centres in Mumbai

The post Infrastructure Boom: How Connectivity is Driving Property Prices in Chembur appeared first on Square Feat India.

The revenue from property registrations through stamp duty collections grew by 12% year-on-year, reaching ₹12,161 crore, compared to ₹10,871 crore in 2023.

Residential properties accounted for 80% of the total registered properties, while non-residential assets made up the remaining 20%, as reported by Knight Frank India, a leading real estate consultancy. The report revealed that December 2024 alone saw 12,518 property registrations, contributing ₹1,154 crore to the state exchequer, surpassing the December 2023 figures of 12,285 registrations and ₹933 crore in revenue.

In 2024, Mumbai had over 1.41 lakh property registrations, the highest in 13 years, demonstrating the city’s sustained demand for real estate despite global economic challenges. For comparison, registrations stood at 1.26 lakh in 2023, 1.22 lakh in 2022, and 1.11 lakh in 2021. Property registrations prior to 2020 had historically been below 1 lakh.

Mumbai’s premium housing segment has also seen significant growth. Properties priced at ₹2 crore and above made up 23% of total registrations in December 2024, up from 18% in December 2023. This segment witnessed 2,879 transactions, reflecting a growing preference for luxury homes. On the other hand, properties priced under ₹50 lakh saw a decline in market share, dropping from 30% in 2023 to 25% in 2024. This shift indicates a preference among buyers for higher-value assets, according to Knight Frank India’s report.

Western and Central suburbs continued to dominate the market, accounting for 86% of the total market share. Notably, the central suburbs saw a rise in their share from 29% to 33%, driven by increased supply and heightened demand from end-users. Meanwhile, the western suburbs experienced a slight decline in market share, from 57% to 53%.

Real estate industry leaders shared their views on the property registration numbers for December 2024:

Prashant Sharma, President, NAREDCO Maharashtra:
“The remarkable growth in Mumbai’s property registrations highlights the resilience and robust demand within the city’s real estate market. The rise in stamp duty collections reflects the growing preference for premium properties and signals buyer confidence. This positive trend reaffirms Mumbai’s position as a dynamic and lucrative real estate hub.”

Rohan Khatau, Director, CCI Projects:
“The substantial increase in property registrations, along with a 12% year-on-year rise in revenue from stamp duty collections, highlights the buoyant market sentiment in Mumbai. The demand for premium homes in key suburbs reflects a clear trend toward lifestyle-driven investments.”

Nishant Deshmukh, Founder and Managing Partner, Sugee Group:
“The sustained increase in property registrations points to a mature market with discerning buyers making informed decisions. Mumbai’s growing real estate market aligns with the rise in well-planned developments offering connectivity and amenities. As a developer, we are optimistic about meeting this evolving demand through projects that balance luxury and accessibility.”

Samyak Jain, Director, Siddha Group:
“The consistent growth in property registrations and revenue is a testament to Mumbai’s strong economic fundamentals and its ability to adapt to evolving buyer preferences. The rise in the central suburbs’ market share indicates growing interest in the area, driven by modern infrastructure and seamless connectivity.”

Shraddha Kedia-Agarwal, Director, Transcon Developers:
“The upward trend in Mumbai’s property market reflects not only the city’s resilience but also the aspirations of its buyers. The increased share of properties priced above ₹2 crore showcases a preference for quality living spaces that align with today’s lifestyle needs.”

Abhishek Jain, COO, Satellite Developers Private Limited (SDPL):
“The 11% rise in property registrations in 2024 shows a healthy market driven by end-user demand and favorable economic conditions. The significant growth in premium property transactions underscores the increasing appetite for luxury housing.”

Govind Krishnan Muthukumar, Managing Director & Co-founder, Tridhaatu Realty:
“The 2024 property registration data underscores the importance of well-designed, strategically located developments. The shift towards premium properties, combined with the rise in central suburbs’ market share, signals a maturing real estate market. We are aligned with this trend, focusing on creating sustainable communities that cater to the aspirations of modern homebuyers.”

Mumbai’s real estate market in 2024 reflects a dynamic shift toward premium housing, a growing demand for suburban developments, and an overall healthy market outlook, driven by economic growth and strategic infrastructure development.

Also Read: Commercial Real Estate Market in Mumbai

The post Mumbai Real Estate Market Surges in 2024: Highest Property Registrations in 13 Years appeared first on Square Feat India.

The land, located within the Borivali district of Mumbai’s suburbs, will be transferred to the Dharavi Redevelopment Project (DRP) and the Slum Rehabilitation Authority (SRA) once all legal formalities are completed. The government has decided that the DRP can request the land from the Mumbai suburbs’ collector only after determining the number of illegal slum dwellers currently residing in these areas. The acquisition process will follow the prevailing policies, along with rules under the Maharashtra Land Revenue Act.

This is the latest in a series of government moves to secure land for the redevelopment of Dharavi. Just last week, the state cabinet had approved the use of 255 acres of salt pan land in Mumbai for slum rehabilitation. The salt pan land includes areas in Kanjurmarg (120.5 acres), Bhandup (76.5 acres), and Mulund (58.5 acres), which are expected to play a significant role in housing displaced slum dwellers under the DRP.

The Dharavi Redevelopment Project is one of the largest urban renewal initiatives in the country, aiming to improve living conditions for thousands of slum dwellers while boosting infrastructure and creating a world-class business hub. The state’s decision to allocate more land is seen as a critical step in accelerating the project’s progress.

While the land allocation is a significant move, the government has emphasized that the acquisition and rehabilitation process will follow all legal protocols to ensure that the rights of existing residents are respected, and illegal encroachments are dealt with in accordance with the law. This is particularly important in areas like Aksa and Malvani, which have long struggled with issues of illegal encroachments and unregulated growth.

The state’s efforts to develop Dharavi align with its broader vision to transform Mumbai into a global city by improving housing, infrastructure, and the overall quality of life for its residents. With several land parcels now secured for the DRP, the focus will shift towards the timely construction of homes and the efficient relocation of affected families.

Also Read: Union Cabinet Sanctions Transfer of 256 Acres for Dharavi Redevelopment Project

The post Dharavi Redevelopment Project: Maharashtra Cabinet Approves Land Allocation in Aksa & Malvani Villages appeared first on Square Feat India.

In contrast, the prices for ready-to-move apartments dropped by 10% QoQ, falling to INR 11,778 psf from INR 13,121 psf in Q2 2024. The decline in ready-to-move home prices coincided with a 7.93% drop in supply, while the availability of under-construction properties spiked by 33.6%, indicating a shift in buyer preference toward homes under development.

Thane’s Growing Appeal

The report attributes Thane’s rising property prices and growing demand to a combination of factors, including substantial infrastructure upgrades. Major projects like the Thane Metro and several MMRDA road initiatives have boosted Thane’s connectivity to Mumbai, making it an increasingly attractive location for homebuyers and investors alike.

The average property rate in Thane has now reached INR 13,165 psf, positioning it as one of the most sought-after residential hubs in the country. Despite the price hike, home search activity in Thane increased by 2.5% QoQ, signaling sustained interest from potential buyers.

Market Segmentation

The PropIndex report also highlighted significant variations in pricing across different property types in Thane. The average price for builder floors stands at INR 8,800 psf, while multistorey apartments are priced at INR 14,000 psf. Residential houses average INR 15,200 psf, and luxurious villas command a price of INR 17,000 psf.

Key Localities Driving Demand

Several key localities within Thane have experienced significant growth in demand, particularly in areas such as Western Thane, Majiwada, and Kolshet, which benefit from their proximity to Mumbai and the influx of commercial developments in the region. The demand for 2 BHK units remains strong, with properties in the INR 13,200 psf range continuing to be highly sought after.

The report underscores Thane’s appeal as an investment hotspot, supported by robust infrastructure, a rise in commercial projects, and increasing demand for premium housing options.

Outlook for the Future

As Thane’s real estate market continues to evolve, the increase in under-construction property prices reflects the area’s growing appeal among both end-users and investors. With the festive season ahead, demand for both ready-to-move and under-construction properties is expected to remain strong, further driven by upcoming infrastructure projects and developer-led schemes.

For more details on the market trends, visit Magicbricks PropIndex Report.

Also Read: MMRDA Appoints Contractors for Three Major Creek Bridges in Thane

The post Thane Sees Sharp Rise in Under-Construction Property Prices: 19.5% Increase in Q3, Reaching INR 16,455 per sq ft appeared first on Square Feat India.

The increase in sales activity pushes the average home sales value to nearly INR 1 crore, marking a 3% rise compared to the same period last year. The growth comes as the region enters the festive season, with increasing demand across all price ranges and suburbs.

Key Insights from the Quarter

• Total Transactions: 52,745 residential transactions were registered in the Mumbai MMR during the July-September period, a 7% increase compared to the same quarter in 2023.
• Sales Value: The total sales value for these transactions rose by 10%, reaching INR 48,409 crore.
• Average Home Sales Value: The average sales value for homes in the region stood at INR 0.92 crore, up from INR 0.89 crore a year ago.

Ganesh Devadiga, Sales Director at Square Yards, noted, “Mumbai MMR continues to demonstrate robust demand across all price brackets. Peripheral and core suburbs alike have shown sustained activity, and we expect the upcoming festive period, including Dussehra and Diwali, to drive even more transactions. Infrastructure upgrades, such as the Metro Line-3 and the Elevated Eastern Freeway, are set to further enhance connectivity and make the region even more attractive to buyers.”

Top Developers and Key Trends

In terms of developer performance, Godrej Properties emerged as the leader in the registered home sales value, moving up from fourth place in the previous year’s September quarter. Godrej Reserve in Kandivli was the highest-grossing project in Mumbai MMR during the quarter.

Conceptual Advisory Services debuted at the top of the list for registered transactions, with 737 units registered in their Suraksha Smart City project in Vasai. Following closely behind in transaction volume was Lodha Group (Macrotech Developers), which ranked second in both total transactions and registered sales value, with 694 units sold and INR 1,060 crore in sales value.

Area-wise and Budget-wise Trends

Residential transactions in the Mumbai MMR region were largely driven by affordable housing in peripheral areas. Properties priced below INR 50 lakh accounted for 52% of all transactions, reflecting increased demand for budget-friendly homes in suburbs. Conversely, high-end properties priced above INR 1 crore continued to represent a significant portion of the market, with 25% of all transactions falling into this category.

In terms of property sizes, smaller homes remained popular. Units under 500 sq. ft. dominated the market, representing 55% of all transactions, while properties between 500 and 1,000 sq. ft. accounted for 37%.

Micro-Market Performance

The peripheral suburbs of Kalyan-Dombivli and Navi Mumbai captured approximately 20% of all residential transactions, with Mumbai Western Suburbs closely following at 18%. The western suburbs led the market in terms of sales value, accounting for 32% of the total registered home sales.

Thane West maintained its position as the top locality for both transaction volume and value, registering 3,895 units worth INR 3,568 crore during the quarter. Other notable performers in terms of sales value included Dombivli East, Mira Road East, Kandivali East, and Malad West.

Looking Ahead: Festive Season Boost

The positive momentum in Mumbai MMR’s residential market is expected to continue as the region moves into the festive season. The upcoming festivals, including Navratri, Dussehra, and Diwali, typically see a spike in property sales, with developers offering special schemes and discounts to attract buyers. Additionally, several ongoing and upcoming infrastructure projects, including the much-anticipated Metro Line-3 and the Thane Integral Ring Metro Rail Project, are expected to further enhance connectivity, making the region even more attractive to homebuyers.

Overall, the Mumbai MMR residential market is poised for further growth, buoyed by strong demand, developer incentives, and infrastructural improvements.

Also Read: Piramal Realty Launches Clubhouse ‘Club V’ at Piramal Vaikunth, Thane

The post Mumbai MMR Residential Market Sees Growth: Sales and Transaction Values Surge in September Quarter appeared first on Square Feat India.