Mumbai reels under projects delay
The anxiety among home buyers in the Mumbai Metropolitan Region (MMR) seem to be soaring with Mumbai, Navi Mumbai and extended suburbs of central and western Mumbai seem to have been infested with more and more projects getting delayed.
As per data more than 50 per cent of residential developments in the city are under-construction.
June 2012 quarter data compiled by real estate rating and research firm Liases Foras shows that 30 per cent of residential projects in the island city, followed by 28 per cent in central suburbs and 18 per cent in western suburbs beyond Borivali are delayed by over 24 months.
The situation hasn’t improved since June as there has been a consistent gradual decline in construction activity / progress in Mumbai for the past 4-5 quarters.
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Borivali, delay in residential projects, home buyers, Liases Foras Mumbai, Mumbai, Mumbai Metropolitan Region (MMR), Mumbai realty market, Navi Mumbai, residential developments
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