List of unsold flats grows for Mumbai!
Mumbai saw a dip in residential projects being launched this year due the long lasting effect of the slump in realty market.
As per a report by property consultants Knight Frank, as planned out of 54,968 units, only 19,470 residential units were launched in Mumbai in 2011.
The upside down projection in realty market is thought to be due to either less buyer interest or builders not lowering the rates. This made Mumbai the highest in the list of unsold flats.
The dead end pause between the builders and the buyers should stop in order to regain the previous year sales.
Source: Indian Express
Builders, Buyers, Buyers interest, Flats, Knight Frank, Mumbai, Mumbai realty market, Realty market, Realty News, Residential units, Sales, Units, unsold flats, Upside down projection
