Recently, the major conundrum in Mumbai Metropolitan Region (MMR) is highest number of unsold flats/ apartments and on the other side poor citizens living in slums. It has created an additional stock of inventories in the housing market. There is complete distortion in housing market has led to burgeoning prices. The paper has focused on the factors that determine the housing prices in MMR. The study also shows geographical constraint of the MMR and its planning that emerged to an extended city to the birth of the second city Navi Mumbai. It also highlights land management, land use pattern, housing supply and affordable housing in MMR.