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This article is more than 1 year old.

MMR's Dombivli tops list of active residential markets of 2019; Chennai, Kolkata find no place

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Dombivli in Mumbai Metropolitan Region (MMR) ranked first on the list of top 10 most active Indian residential micro-markets based on the number of new units launched in 2019. According to an ANAROCK Property Consultants report, more than 7,130 new units were launched in this market in 2019, with an average property price of Rs 6,597 per sq. ft (built-up area).

MMR's Dombivli tops list of active residential markets of 2019; Chennai, Kolkata find no place
Dombivli in Mumbai Metropolitan Region (MMR) ranked first on the list of top 10 most active Indian residential micro-markets based on the number of new units launched in 2019. According to an Anarock Property Consultants report, more than 7,130 new units were launched in this market in 2019, with an average property price of Rs 6,597 per sq. ft (built-up area).
Panvel in Navi Mumbai ranked second, adding nearly 5,900 new units to this market at an average price of Rs 6,170 per sq. ft. New Gurgaon in the national capital region (NCR) was close behind in the third spot with new launches touching nearly 5,400 units.
Although New Gurgaon saw a generous supply, it was the only micro-market of the top 10 active residential hotspots where average property prices declined by 6 percent between 2016 and 2019. Average property rates here were Rs 6,460 per sq. ft in 2016 and fell to Rs 6,087 per sq. ft in 2019, the report said.
MMR’s Badlapur and Pune’s Mahalunge ranked fourth and fifth. Located in close proximity to Mumbai in Thane district, Badlapur attracts increasing interest from both end-users and investors.
Affordable prices and good connectivity to key areas in MMR have boosted its real estate prospects. In 2019, Badlapur saw new launch supply of nearly 5,350 units, with the lowest average property prices among the top 10 markets at Rs 3,770 per sq. ft. Mahalunge in Pune saw about 4,650 new units launched during the year with an average price of Rs 5,657 per sq. ft.
However, no micro-markets in Chennai and Kolkata featured in the top 10 list of most active residential hotspots. Developers in all top cities are now extremely selective with their choice of locations and focus on markets with high demand within specific budget categories.