unsold flats
Mumbai is witnessing supply outpacing demand in the residential sector. On one hand, upcoming projects are witnessing very subdued response from the buyers and investors. On the other hand, pace of construction is slow and almost 70 per cent of the total residential units under construction in the northern fringes of the city remain unsold [...] Continue Reading »
The real estate scenario in Mumbai remains grim with fewer buyers showing interest in purchasing property, the number of unsold units in the Mumbai metropolitan region has shot up. As per records, unsold units touched 121.97 million sq ft by June 2012. Of the total unsold stock, about 25% is located in the western suburbs [...] Continue Reading »
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 [...] Continue Reading »
Metro cities has seen a slow down in demand in the residential realty sector in the recent times. This is due to the fact that there has been a lot of hike in property prices and rise in interest rates. According to a report, Delhi-NCR has topped the list of unsold flats at 102,758 units, [...] Continue Reading »
Mumbai Tenants’ associations say that if the government wants to increase the supply, it should do so by levying a ‘vacancy tax‘ on vacant and unsold flats in Greater Mumbai. The associations’ call follows a recent proposal mooted by the Centre-draft Model Residential Tenancy Act 2011-to do away with antiquated rent control legislation and bring [...] Continue Reading »
