Mumbai’s residential property prices have increased by around 50% during the last five years

According to a survey by Anarock, the average price of a home in the Mumbai Metropolitan Region (MMR) has increased by around 50% over the last five years. It ascribed the notable upsurge to increased demand in the cities and surrounding areas.

The average cost of a home in the Mumbai Metropolitan Area increased by approximately 48% between January and June 2024, from Rs 10,610 per square foot in 2019 to Rs 15,650 per square foot in 2024. According to statistics from Anarock, strong sales and a sharp increase in building expenses are to blame for the recent climb in residential property values. The survey also said that from late 2016 to 2019, real estate values in both regions had remained unchanged.

Source – News Nine

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