propnewstime.com-MMR records highest residential price growth among Indian cities in 2024
The Mumbai Metropolitan Region (MMR), encompassing Greater Mumbai, experienced a 5% year-on-year growth in residential property prices in 2024, as revealed by a Knight Frank India report released earlier this week. The weighted average price stood at INR 8,277 per sq. ft., marking the highest among eight Indian cities.
Central and South Mumbai micro-markets demonstrated significant price appreciation, recording 8% and 7% growth, respectively. In terms of transaction trends, properties priced above INR 50 lakh accounted for a substantial share; however, this category's contribution decreased from 45% in 2023 to 43% in 2024. Conversely, the INR 1 crore to INR 2 crore segment witnessed a rise, growing to 20% from 17%, while properties in the INR 2 crore to INR 5 crore range saw an increase in share from 6% to 10%.
