Unsold homes in Indian cities increasing!
The number of unsold homes in Mumbai and Delhi is increasing and these homes do require minimum of three to four years to be sold.
A recent study by Liases Foras, a real estate rating and research consultant firm says that it takes at least three years to clear 1.13 lakh units or 120 million sq ft of unsold homes in Delhi.
The Liases Foras study covers cities like Thane, Kalyan and Navi Mumbai under Mumbai Metropolitan Region (MMR) areas, Delhi, Pune, Bangalore, Hyderabad and Chennai.
Delhi has more than 232.57 million square feet or 1.60 lakh units of unsold homes which is double the number in comparison to Mumbai city.
The real estate experts say that real estate is attracting good amount of money from areas like Noida, Gurgaon especially in residential properties.
Also, the Reserve Bank of India key rate cut by 50 basis points is said to be forcing the lenders to decrease their lending rates of properties across India.
More related stories:
Metros sparkle in the list of unsold flats!
Unsold flats need three years to get home buyers in Mumbai
Source: The Indian Express
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The number of unsold homes or flats in Mumbai & Delhi are shocking. When these properties are unsold why builders not selling them at lesser price. It is seen that top builders in city are launching more and more projects.