New entrants in real estate among top sellers in Greater Mumbai in 2022
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Loading... - Kabir Laghari
- 18 Jan 2023
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Birla Estates’ project in Worli sold the most units- worth ₹1,825 crore- in 2022
New, recent entrants in the real estate sector in the Mumbai Metropolitan Region are doing better compared to established players, with Birla Estates’ project in Worli selling the most in 2022, data showed.
Birla Estates is the real estate subsidiary of Century Textiles and Industries and is just about five years old in the business. Its project in Worli sold units worth ?1,825 crore, data from the real estate intelligence platform Zapkey showed.
Bengaluru-based Prestige Estates, which made its entry into the Mumbai market just a couple of years back, was among the top sellers at its project in the central suburb of Mulund with sales worth ?883 crore in the year under review.
Stung by investing in projects that have got stuck halfway due to lack of funding or the developer running into regulatory problems, customers have become cannier and more discerning and prefer to buy from builders backed by reputed promoters
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Other recent entrants that are figuring at the top of the list of 100 projects in the region are L&T Realty, the real estate arm of Larsen & Toubro, and Raymond Realty, which created last year in January through a demerger.
Data shows that apart from Birla Estates, others in the top five projects were Lodha’s ‘The Park’ in Worli which saw sales of ?1,572 crore, K Raheja’s Vivarea in Mahalaxmi with ? 1,156 crore, Oberoi Sky City in Borivali with ?1,092 crore and Lodha’s World Towers in Upper Worli at ?956 crore. Read More…
