MMR Housing Report Q2 CY 23

MMR Housing
Q2 CY’23 Report
August 2023
MMR Housing Report | August 2023
Message From The

President’s Desk
Dear Members, Developers, Entrepreneurs, and Stakeholders,
I am delighted to share with you the latest MMR Housing Report

for the year 2023, a result of our partnership with CRE-Matrix. This
collaboration has enabled us to accelerate research initiatives,
delivering comprehensive and reliable insights into various real
estate aspects. The information provided within this report is an
authentic and trusted source, catering to the needs of real
estate developers, entrepreneurs, and potential investors in the
thriving Mumbai Metropolitan Region (MMR) market.
The MMR Housing Report 2023 is a highly valuable resource that

delves into the performance of the real estate sector in the MMR
throughout this year. Its insights are pivotal for developers, Domnic Romell
customers, and stakeholders involved in the real estate President, CREDAI-MCHI
development landscape of the Mumbai Metropolitan region.
One of the key findings of the report highlights a 9% increase in unsold inventories during Q2 CY'23
compared to the same period in the previous year, Q2 CY'22. Notably, this increase is relatively moderate
due to the equilibrium between demand and supply. The report also underscores the remarkable growth
in unsold inventories by 23% in New Mumbai and Bhiwandi during the same time frame.
Furthermore, the report sheds light on the upward trajectory of real estate prices in the MMR. The region
has witnessed a substantial 4% rise in prices during Q2 CY'23 as compared to Q2 CY'22, showcasing the
consistent appreciation in value. These insights provide developers and stakeholders with crucial
information to make informed decisions and strategies in this dynamic market.
Our partnership with CRE-Matrix has allowed us to deliver inclusive and comprehensive reports that add
substantial value to the real estate ecosystem. The MMR Housing Report 2023 stands as a testament to
this value addition, offering actionable insights and fostering an environment of well-informed decision-
making.
I extend my gratitude to all involved parties, including our members, collaborators, and the entire real
estate community, for their continuous support in making these initiatives possible. We are committed to
furthering our efforts to provide meaningful contributions to the industry.
I am confident that this report will prove to be an invaluable asset to all our stakeholders, offering a
deeper understanding of market trends and dynamics. Together, let us continue to shape the MMR real
estate landscape with informed insights and collaborative efforts.
Warm Regards,
Domnic Romell
President
CREDAI-MCHI
Message From The

CEO’s Desk
Season’s Greetings to Everyone!
Our partnership with CREDAI-MCHI started in January 2021 and

completes two and half years in June 2023. I am pleased to release
Quarter Round Up report compared all quarters from Jan 2021 till
June 2023 as part of our tie-up with CREDAI MCHI as their
Knowledge and Research Partner.
Through this Partnership, CRE Matrix aims to offer Thought

Leadership Research & Analytics content strictly using authentic
verified sources to CREDAI MCHI members.
Here are some of the Key take-aways:
• Housing sales witnessed a 0.25% increase in H1 CY’23 vs H1 CY’22.

Q2 CY’23 saw an upward trend of 6% increase in sales Abhishek Kiran Gupta
CEO, CRE Matrix & IndexTap
compared to Q2 CY’22
• Vasai - Virar region saw an increase of 46% sales in H1 CY’23 compared to H1 CY’22, followed by South
Mumbai with 42% and Navi Mumbai with 22% growth respectively.
• While there was decline of 41% in the launch number in MMR for H1 CY’23 over H1 CY’22, but Rest of
Palghar saw a spike of 20%, followed by South Mumbai at 15% in launches, Navi Mumbai at 13%
respectively, compared during the same period.
• The overall MMR region saw a 9% increase in unsold inventory in Q2 CY’23 vs Q2 CY’22, which was
relatively low due to balanced demand and supply. However, both Navi Mumbai & Bhiwandi saw a 23%
rise in unsold inventory for same period.
• Interestingly, house prices have been on an upward trajectory in MMR, with the region clocking a 4% rise
in Q2 CY’23 vs Q2 CY’22 prices. Central Suburbs, Thane City and Vasai - Virar have contributed largely to
this increase.
CRE Matrix is one of the largest custodians of registered information in the real estate sector. Some of our
services include Asset Comparison, Valuations, Demand/Supply Analysis, Property Benchmarking and
Predictive Analytics for accurate Real Estate forecasting.
We at CRE Matrix are passionate about our work, our data, and our analysis. We look forward to a long
inning with CREDAI MCHI. We invite all members of CREDAI MCHI to approach us for any queries they may
have on this report or otherwise.
Regards,
Abhishek Kiran Gupta

CEO & Co-Founder
CRE Matrix & IndexTap
MMR
• Across MMR, sales are increased by 6% in Q2 CY’23 vs same period last year.
On a semi - annualized basis, however, sales increased by 0.25% in H1 CY’23 Vs
H1 CY’22.
• New launches declined by 20% in Q2 CY’23 vs average of last 9 quarters.
• Unsold Inventory increased by 9% at the end of Q2 CY‘23 vs Q2 CY’22.
• MMR saw an increase of 9% in housing prices in Q1 CY‘23 vs. Q1 CY’22.
• Although the supply exceeded the demand, prices still went up due to
increase in the input materials cost.
Housing Launches Housing Sales

(Primary Only)
87,092
1,00,000
90,000
80,000
51,533
59,891
70,000 60,000
52,282
51,649
38,798
# of Units
# of Units
60,000 50,000
36,944
33,714
37,989
31,683
37,386
31,182
50,000
29,383
34,262
28,523
40,000
27,278
24,044
40,000
21,330
30,000
20,680
18,936
30,000
20,000
20,000
10,000 10,000
0 0
Unsold Inventory Housing Prices

Wt. Avg. Price
8,06,677
7,94,979
7,91,339
7,84,532
7,39,570
8,50,000
7,18,810
7,18,477
6,96,820
6,90,872
8,00,000
6,87,957
17,247
17,073
16,816
7,50,000
16,606
16,523
7,00,000
16,147
INR /sqft
15,967
# of Units
15,775
15,717
6,50,000
15,157
6,00,000
5,50,000
5,00,000
4,50,000
4,00,000
CREDAI – MCHI | CRE Matrix | Source : maharera.mahaonline.gov.in and CRE Matrix Research 1
South Mumbai
• On semi - annualized basis, sales went up by 42% in H1 CY CY’23 compared
to H1 CY CY’22.
• South Mumbai saw launches increase by 15% in H1 CY’23 period vs H1 CY’22
• During Q2 CY'23, unsold inventory witnessed a rise of 15% compared to Q2

CY’22
• Housing prices saw an 8% decline in Q2 CY’23 vs Q2 CY’22
Housing Launches
Housing Sales
(Primary Only)
1,600
1,327
1,400
1,058
1,200
800
900
931
1,000 800
# of Units
# of Units
639
700
748
576
515
800 600
434
500
379
600
334
425
318
304
300
378
400
346
301
400 300
171
200
200
100
0 0

Wt. Avg. Price
16,034
15,283
15,241
17,000
14,811
14,628
16,000
14,182
13,913
13,904
13,844
39,794
39,528
13,465
15,000
38,721
38,188
38,111
14,000
36,735
36,387
INR /sqft
# of Units
13,000
32,657
12,000
32,045
11,000
29,921
10,000
9,000
8,000
Central Mumbai
• On a semi-annualized basis, sales declined by 2% in H1 CY CY’23 compared to
H1 CY CY’22.
• A decline of 74% was witnessed in launches for H1 CY’23 period vs H1 CY’22.
• Unsold Inventory saw a decline of 1% in Q2 CY’23 vs Q2 CY’22.
• Housing prices went up by 4% in Q1 CY’23 Vs Q1 CY’22

(Primary Only)
3,500
2,762
3,000
1,308
2,128
2,500 1,400
1,042
1,007
1,200
# of Units
# of Units
996
2,000
1,536
861
1,000
805
790
781
754
1,500
646
800
1,000 600
691
598
486
451
400
258
500
200
88
56
0 0
Wt. Avg. Price

19,257
18,523
18,228
18,125
17,912
17,450
20,000
17,301
16,081
15,637
42,665
15,334
18,000
42,324
40,903
40,656
40,554
16,000
39,228
# of Units
38,285
37,850
INR /sqft
37,655
37,172
14,000
12,000
10,000
8,000
Central Suburbs
• On a semi-annualized basis, sales were 0.4% lower in H1 CY’23 compared to H1
CY’22.
• Housing launches witnessed 44% dip in H1 CY’23 vs H1 CY’22.
• Unsold Inventory rose by 6% at the end of Q2 CY’23 compared to end of Q2 CY22

levels.
• Prices shot up by 12% at the end of Q2 CY’23 vs the same period in 2022

(Primary Only)
2,000
1,672
1,660
1,750
1,495
1,107
1,500
1,028
1,017
1,200
1,182
979
961
1,064
1,038
1,250
# of Units
# of Units
1,000
818
780
855
1,000
800
636
618
705
634
577
750 600
397
500 400
250 200
0 0

Wt. Avg. Price
19,812
19,658
22,000
19,414
19,230
18,721
18,243
32,669
20,000
31,797
16,980
16,893
16,887
29,611
16,635
29,750
29,665
29,373
28,920
18,000
28,235
# of Units
INR /sqft
26,523
25,999
16,000
14,000
12,000
10,000
Eastern Suburbs
• Sales were up 13% in Q2 CY’23 compared to last year same period.
• Housing launches witnessed 64% dip in H1 CY’23 period vs H1 CY’22
• Unsold Inventory increased by 6% at the end of Q2 CY23 vs inventories at the

end of Q2 CY’22
• Housing prices declined by 1% in Q2 CY’23 over the same period in Q2 CY’22.

(Primary Only)
9,000
7,632
8,000
6,800
4,450
6,134
5,847
7,000 5,000
4,134
3,984
3,880
3,735
5,188
4,500
3,446
6,000
3,432
# of Units
3,366
# of Units
4,000
2,742
5,000 3,500
3,523
2,208
4,000 3,000
2,734
2,682
2,404
2,500
3,000
1,624
2,000
2,000 1,500
1,000
1,000
500
0 0

Wt. Avg. Price
67,141
66,680
66,347
65,319
62,993
70,000
59,495
65,000
55,864
55,856
55,233
23,718
53,465
60,000
22,497
22,460
22,373
22,348
55,000
21,749
INR /sqft
# of Units
20,855
50,000
20,633
20,120
19,573
45,000
40,000
35,000
30,000
Western Suburbs
• Sales surged by 17% in H1 CY’23 from H1 CY’22 on a semi - annualized basis.
• Housing launches decline by 41% in H1 CY’23 vs H1 CY’22
• Unsold Inventory increased by 17% in Q2 CY’23 compared to Q2 CY’22
• Housing prices went up by 4% in Q2 CY’23 vs Q2 CY’22.

(Primary Only)
13,554
15,000
12,500
6,934
8,000
8,505
10,000 7,000
# of Units
7,692
# of Units
7,482
7,339
5,100
4,901
6,000
4,468
4,112
4,035
5,688
3,968
3,951
3,934
7,500
5,000
3,336
4,709
4,000
3,206
5,000
2,970
2,874
3,000
2,500 2,000
1,000
0 0
Wt. Avg. Price

88,624
1,00,000
23,883
86,032
85,141
84,379
23,326
23,068
23,023
22,970
90,000
22,638
75,699
22,414
72,685
22,184
69,663
69,152
68,682
80,000
65,092
# of Units
INR /sqft
21,047
70,000
20,117
60,000
50,000
40,000
Thane City
• Sales for Q2 CY’23 were 5% higher than the sales during CY’22, on quarter
basis.
• New launches decreased by 45% in H1 CY’23 when compared to H1 CY’22
• Unsold Inventory rose by 15% in Q2 CY23 compared to Q2 CY22
• Housing prices appreciated by 9% in Q2 CY’23 vs Q2 CY’22

(Primary Only)
8,387
9,000
8,000
5,367
7,000 6,000
5,028
6,000
# of Units
5,000
# of Units
4,381
3,653
5,000
3,286
3,185
3,040
4,000
2,956
3,127
3,022
2,611
2,608
2,569
4,000
2,446
3,000
1,950
2,134
3,000
1,702
2,000
2,000
613
1,000
210
1,000
0 0
Unsold Inventory
Housing Prices
Wt. Avg. Price

49,557
49,545
48,450
48,441
48,279
55,000
44,803
44,368
43,094
41,967
41,719
50,000
17,193
45,000
16,518
16,269
16,061
INR /sqft
40,000
15,720
15,652
# of Units
35,000
14,950
14,851
14,614
14,510
30,000
25,000
20,000
15,000
10,000
Navi Mumbai
• Sales were up by 22% in H1 CY’23 vs H1 CY’22, on a semi - annualized basis.
• New launches increased by 13% in H1 CY’23 vs H1 CY’22.
• Unsold Inventory increased by 23% at the end of Q2 CY’23 compared to end of

Q2 CY’22 levels.
• 23% surge in the housing prices recorded in Q2 CY’23 vs Q2 CY’22

(Primary Only)
2,174
2,400
2,200
1,721
2,000
1,800
889
1,000
1,600
1,208
900
# of Units
1,400
800
# of Units
1,200 700
904
549
504
1,000
482
600 442
429
421
800 500
325
400
444
261
600
376
226
287
300
210
400
149
200
200
22
100
0 0

Wt. Avg. Price
8,674
8,540
8,335
8,140
9,000
7,118
8,000
6,968
6,942
6,865
20,392
6,785
22,912
22,593
22,269
21,470
7,000
5,998
20,994
# of Units
20,360
INR /sqft
19,765
6,000
18,392
17,782
5,000
4,000
3,000
Mira Bhayandar
• Sales were up by 17% in Q2 CY'23 from Q2 CY'22 on a quarter-on-quarter
basis.
• New launches dipped by 45% in H1 CY’23 vs H1 CY’22.
• Unsold Inventory increased by 7% in Q2 CY’23 vs Q2 CY’22.
• Housing prices went down by 2% in Q2 CY’23 vs Q2 CY’22

(Primary Only)
3,206
3,126
3,500
3,000
2,659
2,099
2,500 3,000
1,867
# of Units
2,500
1,633
# of Units
2,000
1,438
1,698
1,342
1,595
2,000
1,451
1,411
1,330
1,500
1,258
1,013
1,013
1,193
1,007
1,500
918
1,000
656
1,000
500
500
0 0

Wt. Avg. Price
31,814
31,526
31,358
31,209
29,851
28,876
33,000
28,240
28,071
27,720
27,230
30,000
13,358
13,267
13,152
13,100
13,042
27,000
12,591
INR /sqft
12,111
# of Units
24,000
11,653
21,000
10,996
10,862
18,000
15,000
12,000
KDMC & Others

• On a semi-annualized basis, sales in H1 CY’23 were 18% lower than H1 CY’22
period.
• There’s been a decline of 45% in the launch for H1 CY’23 vs H1 CY’22.
• Unsold Inventory increased by 7% in Q2 CY’23 vs Q2 CY’22 levels.
• Pricing has moved up by 9% at the end of Q2 CY’23 vs Q2 CY’22.

(Primary Only)
14,064
14,744
16,000
13,472
14,000
10,066
12,000
7,020
6,904
8,000
10,000 7,000
5,494
# of Units
5,406
5,367
# of Units
4,793
4,696
6,000
4,582
4,393
8,000
3,935
5,468
5,000
4,607
6,000 4,000
3,692
3,439
2,953
4,000 3,000
2,000
805
2,000
1,000
0 0

Wt. Avg. Price
1,15,586
1,13,814
1,11,695
1,09,154
1,06,209
1,20,000
99,757
1,10,000
8,944
93,769
8,731
8,679
90,304
89,628
89,603
8,599
8,490
1,00,000
8,408
8,207
8,137
# of Units
INR /sqft
90,000
7,793
80,000
7,228
70,000
60,000
50,000
Badlapur-Ambernath
• Sales in Q1 CY’23 were 24% lower and 3% higher in Q2 CY’23 period compared
to last year
• New launches saw a decline by 8% in H1 CY’23 vs H1 CY’22
• Unsold inventory shoots up by 10% at the end of Q2 CY'23, on a Q-o-Q basis.
• Growth of 6% in housing prices recorded in Q1 CY’23 vs Q1 CY’22

(Primary Only)
5,000
4,347
4,085
4,023
4,500
3,702
3,607
3,274
4,000
3,500
3,028
2,782
3,500
3,000
# of Units
# of Units
2,411
3,000
2,120
2,271
2,022
1,914
2,500
1,858
1,855
1,734
2,500
1,683
1,627
2,000
2,000
1,233
1,039
1,500 1,500
1,000 1,000
500 500
0 0

Wt. Avg. Price
65,000
56,827
54,862
54,083
53,461
60,000
6,973
51,594
6,949
50,353
49,643
48,673
47,996
47,408
55,000
6,866
6,856
50,000
# of Units
INR /sqft
6,734
6,721
45,000
6,664
6,564
40,000
6,482
6,464
35,000
30,000
25,000
Bhiwandi
• On a quarterly basis, sales in Q2 CY’23 were 11% higher than Q2 CY’22 period.
• New launches saw a decline of 33% in Q1 CY’23 period vs Q1 CY’22
• Unsold inventories significantly rose by 23% in Q2 CY'23, on a Q-o-Q basis
• Housing prices surged up by 12% in Q1 CY’23 vs Q1 CY’22

(Primary Only)
6,000
4,934
4,414
5,000
3,632
4,000
4,000
3,500
# of Units
2,710
# of Units
3,000
3,000
2,500
1,819
1,610
1,447
1,447
1,423
2,000
1,317
1,284
2,000
1,153
1,134
1,126
1,500
922
843
674
508
1,000 1,000
273
225
500
0 0

Wt. Avg. Price
33,728
36,000
33,356
6,226
34,000
31,399
30,996
5,941
5,892
5,890
30,095
5,848
5,819
32,000
# of Units
INR /sqft
5,579
5,569
28,275
5,398
27,750
30,000
5,332
27,346
26,706
26,246
28,000
26,000
24,000
Greater Thane
• Sales in Q2 CY’23 were 3% lower than CY’22 period, on Q-o-Q basis.
• New launches shot up by 145% in Q1 CY’23 vs Q1 CY’22
• Unsold Inventory increased by 7% in Q2 CY’23 vs Q2 CY’22
• Housing prices witnessed 6% appreciation in Q2 CY’23 vs Q2 CY’22

(Primary Only)
826
900
800
633
700
310
350
600
300
# of Units
# of Units
500 231
250
192
400
175
169
200
149
145
132
125
300
150
107
164
162
149
135
200
100
80
66
100 50
0
0 0

Wt. Avg. Price
8,200
7,961
7,809
7,792
7,779
8,000
4,899
7,800
4,799
4,770
4,712
4,712
7,461
7,449
4,651
4,650
# of Units
INR /sqft
4,537
7,600
4,518
7,298
4,366
7,284
7,259
7,231
7,400
7,200
7,000
6,800
Vasai-Virar
• Sales were up 46% in H1 CY’23 compared to same period in CY’22
• New launches went down by 50% in H1 CY’23 vs H1 CY’22
• Unsold Inventory increased by 12% in Q2 CY’23 compared to Q2 CY’22
• Housing prices increased by 9% in Q2 CY’23 vs Q2 CY’22

(Primary Only)
9,274
10,000
9,000
8,000
4,550
5,000
6,134
7,000
5,657
4,500
3,515
3,510
3,461
# of Units
# of Units
6,000 4,000 2,990

3,500
3,868
2,525
5,000
2,509
3,000
3,026
1,984
1,914
4,000
1,794
2,604
2,500
2,119
1,928
1,913
1,842
3,000 2,000
1,500
2,000
1,000
1,000
500
0 0
Wt. Avg. Price

62,150
62,155
61,483
61,048
65,000
55,401
60,000
52,257
51,151
8,413
8,404
8,374
50,254
50,240
50,183
55,000
7,913
7,744
INR /sqft
7,536
7,392
# of Units
50,000
7,163
7,021
6,928
45,000
40,000
35,000
30,000
Rest of Palghar
• Sales were down 3% in Q2 CY’23 compared to CY’22 on Q-o-Q basis.
• New launches increased by 20% in H1 CY’23 compared to same period in CY’22
• Unsold units increased by 6% at the end of Q2 CY’23 compared to Q2 CY’22
• Housing prices went up by 7% in Q1 CY’23 vs Q1 CY’22
Housing Launches
Housing Sales
(Primary Only)
3,000
2,462
2,256
2,500
2,069
2,500
1,993
2,000
1,612
# of Units
# of Units
2,000 1,480
1,130
1,500
1,057
1,106
1,078
1,500
1,045
1,012
1,002
944
926
806
868
750
744
1,000
729
1,000
500 500
0 0

Wt. Avg. Price
41,735
40,878
40,752
40,747
40,678
39,741
39,509
39,447
39,391
39,174
45,000
40,000
5,086
5,055
5,018
35,000
4,924
4,901
INR /sqft
4,831
# of Units
4,744
30,000
4,681
4,637
4,520
25,000
20,000
15,000
10,000
Panvel
• Sales for H1 CY’23 have experienced a 4% decline compared to H1 CY’22.
• On a quarter-on-quarter basis, there was a 21% increase in housing launches

during Q1 CY'23 compared to CY’22
• Unsold Inventory increased by 5% at the end of Q2 CY’23 compared Q2 CY’22
• Both Q1 and Q2 CY'23 experienced a 3% decline in price compared to the

corresponding periods of the previous year

(Primary Only)
8,275
9,000
8,000
5,294
# of Units
7,000 6,000
6,000
4,128
# of Units
4,618
5,000
3,884
3,471
5,000
3,807
3,661
3,085
3,474
3,021
4,000
2,923
3,211
2,708
3,037
4,000
2,468
2,652
2,272
3,000
2,026
1,873
3,000
2,000
2,000
1,000 1,000
0 0

Wt. Avg. Price
1,01,784
1,01,561
1,01,534
1,00,637
98,371
1,05,000
97,435
97,068
96,344
96,233
95,729
1,00,000
11,311
95,000
11,038
11,033
10,973
10,959
10,949
# of Units
10,848
10,840
INR /sqft
90,000
10,680
10,623
85,000
80,000
75,000
70,000
Rest of Raigad
• Q-o-Q sales declined by 4% in Q2 CY’23 compared to CY’22.
• Housing launches increased by 35% in Q1 CY’23 period vs Q1 CY’22
• Unsold Inventory units rose by 4% at the end of Q2 CY’23 vs Q2 CY’22
• Housing prices went up by 2% at the end of Q2 CY’23, on Q-o-Q basis

(Primary Only)
3,331
3,196
3,500
3,000
2,366
3,097
2,203
2,500 3,500
2,057
# of Units
1,808
3,000
# of Units
2,000
1,529
2,070
2,500
1,290
1,686
1,190
1,509
1,503
1,500
1,456
1,437
2,000
1,366
1,265
1,147
848
1,500
1,000
1,000
500
500
0 0

Wt. Avg. Price
90,117
91,000
88,494
90,000
88,358
87,976
87,582
7,101
89,000
7,049
7,028
6,946
6,802
6,753
86,672
6,673
6,663
88,000
INR /sqft
86,376
86,318
6,504
# of Units
86,005
85,775
6,197
87,000
86,000
85,000
84,000
83,000
Keval Valambhia
COO, CREDAI-MCHI
CREDAI-MHCI is an apex body consisting of members from the Real Estate

Industry among Mumbai Metropolitan Region (MMR). It is the most prominent and
the only recognized body of the Real Estate Developers in MMR.
We bring together members dealing in Real Estate Development on one common

platform to address various issues facing the industry. With a strong Membership
of over 1400 leading Developers in Mumbai, CREDAI-MCHI has expanded across
MMR, having its own units in the region of Thane, Kalyan-Dombivli, Mira-Virar,
Raigad and Navi Mumbai. CREDAI-MCHI is recognized by Government of
Maharashtra and the Central Government and helps in meeting their objectives
of providing housing, which is a basic necessity. CREDAI-MCHI is responsible for a
host of important activities which includes providing research, statistics and
general information to the members.
Authors
Muhammed Talha Sayyed

Real Estate Analyst
talha.sayyed@crematrix.com
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Shahid Tanwar
Team Manager - Residential Analytics
shahid.tanwar@crematrix.com
Pranav Bhalla
Head - Research & Consulting
pranav@crematrix.com
Saurav Loharuka
Co-Founder & Residential Head
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sauravloharuka@crematrix.com
Abhishek Kiran Gupta

CEO & Co-Founder
abhishekkirangupta@crematrix.com
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CRE Matrix
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algorithms that relentlessly provide up-to-date
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CRE Lease Matrix Copyright © 2023 CRE Matrix

The analysis is indicative in nature and not construed to be any
Developed by CRE Matrix, using the experience of professional or financial advice. The information contained herein has
comprehending around 1 Lakh lease documents, across been prepared to assist all users in making their own evaluation and
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MMR Housing Report Q2 CY 23

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MMR Housing Report Q2 CY 23

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MMR Housing

Message From The

I am delighted to share with you the latest MMR Housing Report

The MMR Housing Report 2023 is a highly valuable resource that

Message From The

Our partnership with CREDAI-MCHI started in January 2021 and

Through this Partnership, CRE Matrix aims to offer Thought

Here are some of the Key take-aways:

• Housing sales witnessed a 0.25% increase in H1 CY’23 vs H1 CY’22.

Abhishek Kiran Gupta

Housing Launches Housing Sales

Unsold Inventory Housing Prices

• South Mumbai saw launches increase by 15% in H1 CY’23 period vs H1 CY’22

• During Q2 CY'23, unsold inventory witnessed a rise of 15% compared to Q2

• Housing prices saw an 8% decline in Q2 CY’23 vs Q2 CY’22

Unsold Inventory Housing Prices

• A decline of 74% was witnessed in launches for H1 CY’23 period vs H1 CY’22.

• Unsold Inventory saw a decline of 1% in Q2 CY’23 vs Q2 CY’22.

• Housing prices went up by 4% in Q1 CY’23 Vs Q1 CY’22

Housing Launches Housing Sales

Unsold Inventory Housing Prices

Wt. Avg. Price

• Housing launches witnessed 44% dip in H1 CY’23 vs H1 CY’22.

• Unsold Inventory rose by 6% at the end of Q2 CY’23 compared to end of Q2 CY22

Housing Launches Housing Sales

Unsold Inventory Housing Prices

• Housing launches witnessed 64% dip in H1 CY’23 period vs H1 CY’22

• Unsold Inventory increased by 6% at the end of Q2 CY23 vs inventories at the

• Housing prices declined by 1% in Q2 CY’23 over the same period in Q2 CY’22.

Housing Launches Housing Sales

Unsold Inventory Housing Prices

• Sales surged by 17% in H1 CY’23 from H1 CY’22 on a semi - annualized basis.

• Housing launches decline by 41% in H1 CY’23 vs H1 CY’22

• Unsold Inventory increased by 17% in Q2 CY’23 compared to Q2 CY’22

• Housing prices went up by 4% in Q2 CY’23 vs Q2 CY’22.

Housing Launches Housing Sales

Unsold Inventory Housing Prices

Wt. Avg. Price

• New launches decreased by 45% in H1 CY’23 when compared to H1 CY’22

• Unsold Inventory rose by 15% in Q2 CY23 compared to Q2 CY22

• Housing prices appreciated by 9% in Q2 CY’23 vs Q2 CY’22

Housing Launches Housing Sales

Wt. Avg. Price

• New launches increased by 13% in H1 CY’23 vs H1 CY’22.

• Unsold Inventory increased by 23% at the end of Q2 CY’23 compared to end of

• 23% surge in the housing prices recorded in Q2 CY’23 vs Q2 CY’22

Housing Launches Housing Sales

Unsold Inventory Housing Prices

• New launches dipped by 45% in H1 CY’23 vs H1 CY’22.

• Unsold Inventory increased by 7% in Q2 CY’23 vs Q2 CY’22.

• Housing prices went down by 2% in Q2 CY’23 vs Q2 CY’22

Housing Launches Housing Sales

Unsold Inventory Housing Prices

KDMC & Others

• There’s been a decline of 45% in the launch for H1 CY’23 vs H1 CY’22.

• Unsold Inventory increased by 7% in Q2 CY’23 vs Q2 CY’22 levels.

• Pricing has moved up by 9% at the end of Q2 CY’23 vs Q2 CY’22.

Housing Launches Housing Sales

Unsold Inventory Housing Prices

• New launches saw a decline by 8% in H1 CY’23 vs H1 CY’22

• Unsold inventory shoots up by 10% at the end of Q2 CY'23, on a Q-o-Q basis.

• Growth of 6% in housing prices recorded in Q1 CY’23 vs Q1 CY’22

Housing Launches Housing Sales