Receive News Updates by E-Mail
Connect with us

Special Reports

Chembur has emerged as one of the most resilient housing micro-markets in Mumbai

News Editor

Published

on

CRE MATRIX

Average housing prices in Chembur have remained near-flat in the last 5 years between 18,000 and 19,000 per sqft. 

1,2 & 3 BHK constitute more than 90% of total launches and sales. Although 2 BHK continues to hold the lion’s share, the last two years have seen a rise in launches of smaller configurations citing affordability, aimed at boosting wilting sales velocity as the prime reason.

Chembur has emerged as one of the most resilient housing micro-markets in Mumbai during this down-cycle. 70% of units to be delivered by 2020 have been booked in Chembur, as compared to the same metric being 54% for Mumbai city. 

Average housing prices in Chembur have remained near-flat in the last 5 years between 18,000 and 19,000 per sqft. 

“Out of the total Quarterly housing sales of INR4000crores averaged in the last six quarters (in value terms) in Mumbai city, Chembur constitutes approx. 3-4% at INR125crores per quarter. About 80% of total sales in last six quarters was in the ticket size between INR75Lakhs to INR2crore per unit. Mere 20% of total sales in the last six quarters were in ticket size above INR2crores per unit, indicating that even Prime Mumbai micro-markets such as Chembur are struggling to offload apartments priced above INR 2crores per unit”- Abhishek Kiran Gupta, Co-Founder, CRE Matrix

Source: CRE Matrix

ALSO READ: Ready-to-move – Vanguard of Revival

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending

© 2020 RealtyNXT | All Rights Reserved.