Mumbai property sales value in top projects drops to Rs 43,000 crore in 2022

Homes worthy Rs 43,000 crore were sold successful Mumbai’s apical 100 lodging projects successful 2022, a diminution of astir 2.5 percent from a twelvemonth earlier, an investigation by Zapkey.com showed. The fig of transactions fell to 20,000, according to the study.

The driblet was owed to a 1 percent summation successful stamp work for Mumbai and Thane from April 1, 2022, and a autumn successful spot worth successful the apical 10 areas specified arsenic Worli, Lower Parel, and Prabhadevi.

In 2021, spot valued astatine Rs 44,300 crore were sold crossed 22,100 transactions successful the apical 100 projects, according to the data. In 2020 and 2021, ample volumes of precocious worth inventory were sold soon aft the archetypal 2 waves of COVID-19, the investigation showed.

The apical 10 projects past year, according to Zapkey.com, included Birla Niyaara successful Worli with income worthy Rs 1,825 crore, followed by Lodha The Park successful Worli (Rs 1,572 crore), K Raheja Vivarea successful Mahalaxmi (Rs 1,156 crore), Oberoi Sky City successful Borivali East (Rs 1,092 crore), and Lodha World Towers successful Upper Worli (Rs 956 crore).

The different transaction values successful the database were L&T Emerald Isle successful Powai with income of Rs 940 crore, Indiabulls Sky Forest successful Lower Parel (Rs 938 crore), Prestige Bellanza successful Mulund West (Rs 883 crore), Oberoi Elysian successful Goregaon East (Rs 878 crore) and Raheja Artesia successful Worli (Rs 863 crore).

In presumption of locations, Worli emerged arsenic the apical locality, contributing to the apical 100 projects with a merchantability worth of Rs 5,600 crore, followed by Powai astatine Rs 4,400 crore, Mulund West astatine Rs 3,600 crore, Mahalaxmi astatine Rs 1,780 crore and Prabhadevi astatine Rs 1,500 crore.

Sales successful Powai, the 2nd successful the database of apical localities, were driven by transactions successful L&T Emerald Isle, L&T Elixir Reserve, Kanakia Codename Future, Hiranandani Gardens Highland, and Hiranandani Gardens Adonia.

In Thane, spot income were Rs 4,500 crore, driven by Raymond The Address, Lodha Amara, Raymond Realty TenX, Piramal Vaikunth, and Rustomjee La Familia (Rustomjee Uptown Urbania), the Zapkey.com investigation showed.

Vandana Ramnani