Only 1.10% Of Mumbai’s Total Inventory Completed, Yet Unsold

Accommodation Times News Services

By Ashutosh Limaye, National Director – Research, JLL IndiabuildingDevelopers have been left wondering why end-users are not buying into their projects even after offering numerous discounts and schemes. The latter, on the other hand, are playing the wait-and-watch game, expecting prices to go down given the continued slump in sales.

To clear the air, JLL India along with the Confederation of Real Estate Developers Association of India decided to find out what the numbers show. Only 2,600 (or 3.35%) of the total unsold inventory of 77,460 residential units have been completed in Mumbai as well as Thane and Navi Mumbai, according to latest figures.

In Mumbai (MCGM limits) and Thane (TMC limits), only 1.10% and 1.33% of the total unsold units are ready for possession, respectively. Only in Navi Mumbai (NMMC limits), this proportion is higher at 8.13%

The inventory overhang in Mumbai (including Thane and Navi Mumbai) is more than 30 months, according to latest figures.





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