MMR is where India's real estate superlatives live, and where its averages lie hardest: a region running from island-city redevelopments to Panvel greenfields, across two development codes, containing simultaneously the country's deepest demand and some of its oldest stalled stock. This dashboard assembles the current numbers and, more usefully, the method for not being fooled by them.
Key takeaways
- The demand core is at records: 80,221 BMC-area registrations in H1 2026 (+6 percent, best since 2013), Rs 6,968 crore in stamp duty (IGR via Knight Frank).
- Supply is concentrating: MMR is among the five cities providing 92 percent of national Q1 2026 launch supply (ANAROCK), so competition arrives in waves, not trickles.
- The region is several markets, but not on the axis usually claimed: across its five districts unsold stock runs 32 to 55 percent of filed units while dead-registration shares sit within five points of each other.
- MMR's five districts hold 24,292 published registrations, 43 percent of Maharashtra's whole catalogue.
- Launch decisions belong at catchment scale, on the register's own supply and absorption data, with city series as context.
The dashboard, current
Source: IGR Maharashtra via Knight Frank (Business Standard, June 2026); ANAROCK Q1 2026 Residential Viewpoints
The pairing to internalise: record turnover in the core, and national supply concentrating into a handful of cities of which MMR is one. Deep demand attracts synchronized supply, which is how strong markets manufacture their own gluts, corridor by corridor, while the city average stays flattering. The register's catchment-level tables are where those corridors confess.
The region, split into its five districts
"Several markets under one acronym" is the claim this whole piece rests on, so it is worth testing against the register rather than repeating. MMR sits across five districts, and together they hold 24,292 published registrations, 43 percent of Maharashtra's entire catalogue.
| District | Published projects | Dead registrations | Filed units | Unsold share |
|---|---|---|---|---|
| Mumbai City | 780 | 25.8% | 37,322 | 37.9% |
| Mumbai Suburban | 6,776 | 22.0% | 328,961 | 32.2% |
| Thane | 7,608 | 24.3% | 493,720 | 50.0% |
| Raigad (Panvel and south) | 5,908 | 26.6% | 225,687 | 54.7% |
| Palghar (Vasai-Virar and north) | 3,220 | 27.2% | 157,062 | 53.2% |
The result corrects the claim rather than confirming it, and in a useful direction. The distress shares barely move: 22.0 to 27.2 percent across the whole region, a spread of five points, and every one of them close to the statewide 26.1. Anyone saying MMR's distress varies by an order of magnitude at this level of aggregation is wrong, and this article's own FAQ said it until it was checked.
What does diverge is inventory. Unsold stock runs 32.2 percent of filed units in Mumbai Suburban and 54.7 percent in Raigad, which is the difference between a market clearing what it builds and one carrying half of it. Scale diverges harder still: Thane files ten registrations for every one in Mumbai City. So the region is genuinely several markets, on depth and on scale, and not on distress.
Two caveats worth carrying. The unsold figures come from the 31 to 50 percent of projects in each district that file the building-level unit table, so they describe filers rather than the district. And the statutory MMR boundary cuts across Raigad and Palghar rather than following them: Panvel alone is 62 percent of Raigad's registrations and Vasai 52 percent of Palghar's, so treat those two rows as district totals that MMR dominates rather than as MMR itself.
An analogy: the airline route map
No airline plans capacity on "India aviation is growing": they plan route by route, because Delhi-Mumbai and Delhi-Dibrugarh share nothing but the country. MMR is an aviation market of routes: the island city's redevelopment economics, the western suburbs' premium depth, Thane's mid-market volume, Navi Mumbai's infrastructure bets, each with its own load factor. The registration series says the network is busy. It says nothing about your route.
The three-layer read for a launch
Layer one, the pulse (monthly). The IGR series: volumes, duty, year-on-year direction, the buyer-side reading inverted for supply planning. A rising pulse absorbs launch waves; a turning one strands them.
Layer two, the context (quarterly). ANAROCK and Knight Frank city series: launches, absorption, unsold, price bands. This layer tells you which segments the wave is arriving in, and MMR's current wave is arriving premium-heavy, which is precisely when unfashionable segments quietly under-supply.
Layer three, the decision (per catchment). The register: your 2 to 3 kilometre supply table, filed absorption, competitor velocity, distress share from the lapsed lists. Layer three regularly contradicts layers one and two, and it is the only layer your project actually lives in.
The MMR-specific discipline is respecting the code boundary as a market boundary: a catchment straddling the BMC line is two catchments, with different cost stacks under the two codes and, frequently, different buyer pools. Run the supply table separately on each side, and price land per sellable metre under the code that actually applies.
Anita Rao's current playbook (illustrative, as ever): her firm tracks the pulse monthly, the context quarterly, and re-runs layer three the week after each QPR deadline for the three corridors it actually operates in. The dashboards disagree constantly, city premium boom, one corridor at 27 months of inventory, another starving, and the disagreement is the information: her next launch sits where layer three dissents positively from the city story, in a mid-market catchment the premium wave forgot.
Where layer three starts, free
Every figure in the district table came from filings that are public project by project. The district pages for Thane, Raigad and Mumbai Suburban list every registration with its status and promised dates, which is the supply table and the distress share for the widest possible catchment, at no cost. Narrowing that to your own 2 to 3 kilometres is the work; the raw material is not the constraint.
The layer-three assembly, supply tables, filed absorption and distress shares, is what ReraGenie's paid reports do: the area market report reads every registration in one pincode for a flat Rs 2,999, and the Rs 2,999 project analysis reads the competing unsold stock around a single registered project. The argument for paying is the assembly rather than the access. One caution travels with it: the register holds each project's state today and keeps no history of what it said last quarter, so filed absorption is a cross-section of projects at different ages on one day, not a sales series.
The one-line summary
MMR's meters read strong and concentrating: a 13-year registration high, supply waves synchronized into few cities, and 24,292 registrations underneath that diverge on inventory depth and scale rather than on distress. Fly the route, not the network, and let the register's catchment data cast the deciding vote on every launch.
Methodology and sources
- Registration volumes and stamp duty: Inspector General of Registration, Maharashtra data analysed by Knight Frank, reported June 2026. These count registered transactions in the BMC area, which is a different thing from a MahaRERA project registration.
- National launch-supply concentration: ANAROCK Q1 2026 Residential Viewpoints.
- District project counts, dead-registration shares, filed units and unsold shares: ReraGenie analysis of 55,913 published MahaRERA projects, as updated on 21 September 2026. A registration counts as dead where its filed status reads Lapsed, De-Registered or Revoked; statewide that is 26.1 percent.
- Unit and unsold figures are summed from the building-level table, which 31 to 50 percent of projects file depending on the district, so they describe the projects that file it rather than the district.
- The MMR statutory boundary does not follow district lines in Raigad or Palghar; both rows are district totals, and the dominant talukas are named where that matters.
- MahaRERA files no price, no carpet area and no unit configuration, so no rate or price band in this article comes from the register.
Evaluating a micro-market or a land parcel?
The ReraGenie project analysis reads the filings around your parcel: supply, absorption and promoter records. Rs 2,999 per project; the area market report is a flat Rs 2,999 per pincode.
See the project analysis