Mumbai Monthly
Real Estate Monitor May 2017
DATA
ANALYSIS FOR THE MONTH OF APRIL 2017
From JLL
INDIA
RESIDENTIAL
Mumbai
residential sector witnessed improved new launches as well increased demand.
Majority of projects were launched in affordable and mid category which
witnessed healthy demand during the month. Most of the projects were launched
in suburbs.
New Launches:
Kalpataru Paramount at Thane
Ruparel Optima at Kandivali
Chembur Central
at Ghatkopar
|
Key Precincts
|
Rental Value (INR per month
for a 1,000 sq ft 2BHK apartment)
|
Capital Value(INR per sq ft)
|
|
Lower Parel
|
65,000-1,10,000
|
25,000–40,000
|
|
Wadala
|
36,000-60,000
|
13,500–23,000
|
|
Andheri
|
32,000-55,000
|
12,500–21,500
|
|
Ghatkopar
|
30,000-46,000
|
11,500–17,000
|
|
Ghodbunder Road
|
12,000–25,000
|
6.000–9,500
|
|
Kharghar
|
10,000–18,000
|
6,000–9,000
|
Policy/ Infrastructure
•The
Mumbai Metropolitan Region Development Authority(MMRDA) had begin work on
viaduct above piers on the Metro VII corridor (Dahisar-Andheri via WEH).
•Maharashtra government hiked ready
reckoner rates by 3.95% on an average from April 1 in Mumbai.
Office Market
Mumbai Office
Market witnessed moderate transactions during April. Interestingly, strong
pre-commitments recorded in upcoming quality buildings. BFSI occupiers
continued considering NaviMumbai for setting up back offices.
Major transaction:
IDFC Bank in Navi
Mumbai
|
Key Precincts
|
Rental Value (INR per sqft
per month)
|
Capital Value(INR per sq ft)
|
|
Lower Parel
|
165 -210
|
17,500 -22,000
|
|
BKC
|
230 –320
|
27,500 -34,000
|
|
Andheri -Kurla Road
|
100 -150
|
10,000 -16,000
|
|
Goregaon-Malad
|
85 -135
|
9,500 -12,500
|
|
Wagle Estate
|
50 -65
|
5,200 -6,900
|
Retail
A new mall of
good quality commenced operations in the Suburbs sub- market.
It comes with good
pre-commitments.
Major
transactions
Inoxin Suburbs
Bata in
Suburbs
New
Completion
Sea woods Grand
Central Mall, NaviMumbai
|
Key Precincts
|
Rental Value (INR per sqft
per month)
|
Capital Value(INR per sq ft)
|
|
Lower Parel
|
260-390
|
23,000-32,300
|
|
Malad
|
130-200
|
12,500-19,000
|
|
Ghatkopar
|
130-220
|
11,100-18,300
|
|
Mulund
|
100-190
|
10,500-15,500
|
|
Thane
|
100-150
|
8,000-14,500
|
|
Navi Mumbai
|
95-140
|
8,000-13,000
|
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