The Mumbai Metropolitan Region (MMR) real estate market is witnessing a significant trend towards affordable housing, with over 50% of new launches being in the affordable segment. According to a report by JLL, the MMR market has seen a surge in demand for housing units priced below ₹1 crore, with cities like Navi Mumbai and Thane emerging as hotspots for homebuyers.
The improved infrastructure, including the new international airport and the Trans-Harbour Link, has also contributed to the growth. Developers like Hiranandani and K Raheja are launching new projects in the region, with prices ranging from ₹20-50 lakh.
The growth in the MMR market is expected to continue, driven by the increasing demand for housing and commercial spaces. The average price per square foot in the MMR market is ranging from ₹5,000-10,000, with rental yields ranging from 3-5%.
