As per data accessed by Zapkey, a total sale of Rs 43,000 crs+ has been registered across 19,000+ txns in the top 100 projects. This is a decline of 2.5% in terms of value on a YoY basis as 2021 saw sales of 44,300 crs+ across 22,100+ txns in the top 100 projects. We believe there were 2 reasons for this minute decline: (1) An increase of 1% in stamp duty for Mumbai, Thane from 1st April 2022, (2) Lesser value contribution from projects in the top 10 list from localities in Worli, Lower Parel, Prabhadevi; unlike 2021 indicating a possibility of a lot of high-value inventory getting sold out in 2020 and 2021 as the pandemic gave a big boost to high-value properties.
Top 10 projects include:
- Birla Niyaara – Worli – Rs 1825 crs
- Lodha The Park – Worli – Rs 1572 crs (across multiple towers)
- K Raheja Vivarea – Mahalaxmi- Rs 1156 crs
- Oberoi Sky City – Borivali East- Rs 1092 crs
- Lodha World Towers – Upper Worli- Rs 956 crs (across multiple towers)
- L&T Emerald Isle – Powai- Rs 940 crs
- Indiabulls Sky Forest – Lower Parel- Rs 938 crs
- Prestige Bellanza – Mulund West- Rs 883 crs
- Oberoi Elysian – Goregaon East- Rs 878 crs
- Raheja Artesia – Worli- 863 crs
Birla’s project emerged as the highest-selling project indicating the importance consumers give to brands in real estate even if it is a relatively newer entrant. Prestige, one of the leading developers in Bangalore, was also able to break into the top 10 with their Mulund project.
Raheja Artesia, Indiabulls Blu, and Rustomjee Crown were in the top 5 projects in 2021 while they have moved out of the top 5 list this year.
Top Localities:
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- Worli emerged as the top locality contributing to the top 100 projects with a total sale value of Rs 5600 crs+ followed by Powai at Rs 4400 crs+, Mulund West at Rs 3600 crs+, Mahalaxmi at Rs 1780 crs, and Prabhadevi at Rs 1,500 crs.
- Powai emerged at number 2 in the list of localities for top 100 projects driven by good sales in L&T Emerald Isle, L&T Elixir Reserve, Kanakia Codename Future, Hiranandani Gardens Highland, and Hiranandani Gardens Adonia.
- Projects in Thane contributed to Rs 4500 crs of sales driven by Raymond The Address, Lodha Amara, Raymond Realty TenX, Piramal Vaikunth, and Rustomjee La Familia (Rustomjee Uptown Urbania).
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