Average prices in MMR have been rising since the start of CY10 month on month at an average rate of ~12% YoY. Mumbai city is seeing relative moderation in price escalation (mid twenties in 2010 has moved down to mid teens in 2011), Navi Mumbai price growth is holding steady; whereas Thane has seen good pick up in prices recently between May-Jul 2011.
Sales volume has been dropping for the past six consecutive months, with the absorption levels in the past few months edging closer to the 2009 monthly average. Given launches are relatively sporadic in nature, we have done a 3-month moving average to gauge the trend better.
