Mumbai Report - ICICI Home Finance
Mumbai Report - ICICI Home Finance
Mumbai Report - ICICI Home Finance
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<strong>Mumbai</strong> Absorption Index<br />
As is evident from the chart given below, the absorption of residential properties in <strong>Mumbai</strong> has been on a<br />
consistent decline since the start of FY 2008-09. The market did pick up sharply in November mainly due to<br />
positive sentiments in the festival season. However, the levels were not sustained in the coming months and<br />
the transactions dropped again. Overall, residential property transactions in April 2009 have nearly halved<br />
from that of the same month in 2008.<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
0<br />
Apr-<br />
08<br />
<strong>Mumbai</strong> Residential Real Estate: Absorption Index<br />
May-<br />
08<br />
Jun-<br />
08<br />
Jul-<br />
08<br />
Aug-<br />
08<br />
Sep-<br />
08<br />
Oct-<br />
08<br />
Nov-<br />
08<br />
Source: <strong>ICICI</strong> HFC Mortgage Valuation Group (Assuming 100 as a base reference no. for Apr-08)<br />
Redevelopment Market<br />
Dec-<br />
08<br />
Jan-<br />
09<br />
Feb-<br />
09<br />
�Redevelopment market is witnessed primarily where the developer gets a higher FSI (Floor<br />
Space Index)<br />
�South <strong>Mumbai</strong> is typically seen as a redevelopment market in <strong>Mumbai</strong><br />
�Areas like Lower Parel, Bandra, Mahim, Sion, Kurla, Five Gardens are characterised by these<br />
redevelopment markets<br />
�A few examples would be the Kohinoor City at Vidyavihar, numerous redevelopment projects<br />
at Tilak Nagar (Chembur), New Era at Cadell Road and the Raheja Brookeville at Matunga.<br />
Mar-<br />
09<br />
Apr-<br />
09
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