Indian Real Estate Market

The housing market is still looking grim. A report by Mumbai based property research firm Liases Foras estimates that the unsold inventory in eight top cities rose by 22% in 2015-16 (see graphic).In the Mumbai Metropolitan Region alone, around 2.26 lakh apartments are lying unsold. In the National Capital Region, the unsold inventory rose 12% from 322 million sq ft in March 2015 to 361 million sq ft in March 2016. Assuming a flat size of 1,200 sq ft, that's more than 3 lakh units lying unsold in what was once regarded as the hottest real estate market in the country . While this may be heartening news for prospective buyers, it spells trouble for those on the other side of the table.With builders saddled with so many unsold flats and demand not picking up, people who wish to sell their property face an uphill task. However, there is a silver lining. With increased concerns around delays by developers in handing over possession of new properties, buyers are increasingly lo