11386 new residential projects in Mumbai

vector-skyline-5By Accommodation Times News Services

Search the web, you will find more than 12000 project listing in Mumbai Metropolitan Region. 99acres dot com have listed 11386 new residential projects on their website and similar number of projects are available on all listing sites. A huge stock is piling and supply will be more than six years absorption capacity of the city.

Dombivali, Kalyan, Ambarnath, Kasara, Titwala, Shil, Diva, Panvel and Karjat regions have put almost 50,000 acres of land put to use as residential apartments. Vasai, Virar and till Dhanu on the western side have ready inventory lying vacant.  An estimated figure of 10,000 flats are vacant.

NPA flats too are coming in the market and since Oct 2014, such flats have flooded the secondary sale in real estate. Banks are finding it difficult to find takers of NPA flats which much higher in price that even discounts on such properties do not lure buyers.

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