Mumbai: Real Estate sector these days is in focus as we see large deals, acquisitions, and demand on a constant rise. Two Mumbai-based Real Estate companies are in focus on the same. Sunteck Realty: The company acquired a land parcel of ~7.25 acres at Beverly Park, Mira Road under the JDA model. The project is estimated to have a development potential of ~2.5mn sq ft built-up area and a revenue potential of around Rs 3,000 crore. This is a positive for the company as it will help in its further growth and expansion. It will host the Luxurious Residential & Retail Project with plush amenities. Sunteck Realty Ltd. has been one of the largest acquirers of projects post-pandemic and has done multiple acquisitions to the tune of 25.5 mn. sq.ft. Mumbai-based real estate organized developers would benefit from a revival in housing sales. A recent report suggests a decent price increase of up to 5% YoY amidst healthy demand. Rising homeownership amongst millennials, supported by higher disposable income and willingness to upgrade to larger spaces equipped with better amenities, has sparked a sharp growth in housing demand in the last few quarters. Demand for self-sustained properties replete with best-in-class amenities has also been increasing post-pandemic. These have led to strong growth in housing sales in the last few quarters.

Mumbai’s home sales momentum has remained comparatively strong and recorded a 23% growth over the same period last year. For real estate developers as well as the homebuyers, the upcoming festival season is a big ray of hope. Both homebuyers and developers will be keen to see the growth of real estate during festivities. Home Purchase is one of the key purchases which are widely considered during festival times and hence the demand will be on the rise in the coming quarters. Mumbai: The real estate sector is booming with a lot of interest in homebuyers to make their home purchases despite inflation and rising interest rate scenarios. Mumbai city (BMC area) witnessed property sale registrations of 8,351 units in August, contributing over ₹633 crore to the State’s revenue according to assessment by Knight Frank India. Homebuyers are preferring price band of Rs. 1 Crore while in terms of apartment size 500-1000 sq. ft of area is being looked forward to. The State revenues from property registrations grew 50% year-on-year (YoY), the real estate consulting firm said. Talking about the rising interest rate scenarios, the rise in repo rate of 140 bps, leading to a rise in home loan rates, and the increase in stamp duty has had its impact on buyer sentiments. However, the traction and liking for having one’s own abode has still been strong. Mumbai’s home sales momentum has remained comparatively strong and recorded a 23% growth over the same period last Year.