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More than Half of Luxury Apartments in Mumbai Yet to be Sold: Icra
September 11, 2019
Rating firm Icra said that around 58% of luxury apartments in Mumbai which covers an area of more than 1,500 sq. ft. each are yet to be sold. It said that unsold inventory is also high in Mumbai as it stands at 54% of the total units which it believes is due to long execution delays in some of the projects.
Icra said that the total value of unsold real estate inventory in central Mumbai is around ₹45,000 crores and that in entire Mumbai stands at ₹83,000 crores.
Photo credit: dritzdcool on VisualHunt / CC BY-SA
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