Mumbai Metropolitan Region registers highest sales of apartments in last 7 years | Mumbai News
MUMBAI: The Mumbai Metropolitan Region (MMR) registered its highest sales of 15,848 apartments in the last seven years during the period between April and June 2017. Of the total MMR sales Mumbai contributed about 5,265 units, according to a report released by Liases Foras, a real estate rating and research firm. " Mumbai constituted 69 % of new supply of entire MMR with central suburb contributing the most,'' said Pankaj Kapoor, MD of Liases Foras. The report said weighted average price was almost stagnant in last seven quarters. This was due to the combined effect of new supply in affordable segment and due to time correction in the otherwise speculative high prices in the market. "Despite the upturn in sales, the inventory still remains high,'' said Kapoor, adding that it will take 51 months to sell the current inventory. "It shows the market is still not efficient; an efficient market maintains 8 -12 months of inventory,'' he said. The ...