In the south-central Mumbai there are unsold luxury accommodation

While developers try to change their proposals negatively and re-adjust, buyers focusing on the area central Mumbai have many options to choose from.

The Mumbai Metropolitan Region (MMR)  central Mumbai has a new supply of approximately 27,000 units between 2013 and Rs 4 in the first quarter of 2019.

According to data from Anarko Property Consultants, there are 81% or 22,000 units in the center-south of Mumbai.

“With fewer buyers, the prices of many supplies and properties which are astronomically high, even after the following modifications, the inventory not sold in this part of Mumbai is obviously comparatively less narrow areas Anuj Puri, chairman of Anurok, will end up for a long time. Thanks to increasing prices, infrastructure problems and mismatch between supply and demand, in South-Central Mumbai there is now a total untold stock of about 11,000 units, which is half of the stock started since 2013. A real estate developer said, “If the supply had increased more then the absorption could have been healthy.” “In an effort to maximize FSI (floor space index) and TDR (development rights transfer), many builders have built buildings in areas like Lower Parel, which inspect luxury apartments.”

He said that one of the possible causes of the overhang is the shape at the high end, such as Khar, Vile Parle, Bandra, Sion and other hot spots like Santa Cruz. Apartments in south-central Mumbai are reduced to 800 square feet of carpet area and go all the way up to 4,500 square feet. In other areas, the minimum carpet area is 1,150 square feet, while the maximum is 3,500 square feet. In other luxury areas, it is more than Rs. 80 crores in south-central compared to Rs. 15 crores.

total Unsold stock in Mumbai’s center-south, about 38% is composed of units above 2,000 square feet of carpet area, which is very expensive for high net worth (HNI) people.  In Mumbai, according to experts.

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