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Mahim real estate market shows versatility in March

PNT Bureau | Last Updated : 8th Apr, 2024

Synopsis

In March, Mahim witnessed robust real estate activity with 24 apartments sold across nine buildings, emphasizing its allure among Mumbai homebuyers. Developer-sold units comprised 42% of transactions, while resale deals made up 37.5%, highlighting Mahim's market dynamism. Rising Midtown Bay led sales, followed by Laxmi Niwas Mahim, solidifying Mahim's status as a coveted locale. The range of properties, from INR 19.8 Lakhs to INR 6.06 crores, caters to diverse budgets. Units varied from 185 to 2,909 square feet, meeting varied needs. With prices per square foot ranging from INR 4,400 to INR 43,300, Mahim offers options for all budget brackets, affirming its inclusivity and attractiveness in Mumbai's real estate scene.

Mahim saw a flurry of real estate activity in March, with 24 apartments being sold across nine different buildings. This impressive number of transactions highlights Mahim's status as a popular and sought-after area for homebuyers in Mumbai. Out of these deals, a significant portion, 42%, were new apartments sold directly by developers. Additionally, 37.5% of the transactions were resale deals, where existing homeowners sold their apartments, reflecting the liquidity and marketability of homes in Mahim.

The most successful building in terms of sales was Rising Midtown Bay, which accounted for a whopping one-third of all the apartments sold in the area last month. This exceptional performance underscores the appeal and desirability of this particular residential complex. Another notable performer was Laxmi Niwas Mahim, where three apartments were sold, further cementing Mahim's reputation as a real estate hotspot.

The real estate landscape in Mahim is characterized by a diverse range of properties catering to varied budgets and preferences. The most expensive apartment sold was a luxurious unit in Dhanlaxmi CHS, fetching an impressive price of INR 6.06 crores. On the other end of the spectrum, the most affordable apartment was in Rich Apartment, which was purchased for just INR 19.8 Lakhs, providing an excellent opportunity for budget-conscious buyers.

The sizes of the apartments sold also varied significantly, with the largest unit spanning an impressive 2,909 square feet in Dhanlaxmi CHS, while the smallest was a compact 185 square feet in M Narayanrao Koli CHS. This diversity caters to the needs of different types of buyers, from families seeking spacious homes to individuals looking for cozy, low-maintenance living spaces.

The prices per square foot in Mahim ranged from INR 4,400 to INR 43,300, with an average of around INR 30,169. Most of the apartments sold fell into the smaller categories, with 58% being less than 500 square feet and 33% between 501-1000 square feet. This prevalence of smaller units suggests a demand for affordable and efficient living spaces in the area.

Mahim's real estate market truly offers something for everyone, with properties spanning a wide range of budgets. Approximately 30% of the properties sold were priced below INR 1 crore, catering to buyers seeking more affordable options. Another 40% fell within the INR 1-2 crore range, appealing to middle-income homebuyers. Additionally, 30% of the properties were sold between INR 2-3 crores, attracting more affluent buyers. Notably, there was even a deal that surpassed the INR 6 crore mark, demonstrating Mahim's appeal to luxury homebuyers as well.

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India >> Maharashtra >> Mumbai City >> Mahim

Mahim real estate market shows versatility in March

Synopsis

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