Urban India has 1.8 lakh unsold housing units worth Rs 1.4 lakh crore
NEW DELHI: There are about 1.83 lakh unsold housing units in urban areas worth Rs 1.39 lakh crore and nearly 55% of them are in the National Capital Region (NCR) and Mumbai Metropolitan Region (MMR), go nment data showed.
The finance ministry had recently told Lok Sabha that the total unsold built-up area across major cities was close to 225 million sq feet and the value was pegged at nearly Rs 1.39 lakh crore. The MMR had the maximum unsold inventory of 51,721 units followed by the NCR, which had 49,027 unsold houses. Government data submitted to Lok Sabha also showed that the value of unsold units in Mumbai was substantially higher at Rs 61,451 crore as compared to the total value of unsold properties in the NCR pegged at Rs 33,990 crore.
The SBICAP study had estimated that nearly 4.58 lakh housing units were stalled.
Some of the reasons behind projects getting stalled have been the liquidity crunch and reports of developers diverting homebuyers’ payments to other projects. Some homebuyers have even stopped making payment since several projects have been stalled for years and some builders have gone bankrupt.
译文来源：三泰虎 http://www.santaihu.com/49037.html 译者：Jessica.Wu
Dreet• 5 hours ago
Thanks to Demonetization.
Dr Vidyadhar Yellutla • 2 hours ago
This shows, demonetization blocked black money and a grand success.
Nuclear MaGa• 4 hours ago
China has 60 Million Unsold Houses.. That is 60 times more !!! What China is doing is Taking Loans from Banks, Government is buying these Houses and taking more Loans,, Repeat. This is what is called China's economic Bubble. We were on our way doing this with Black money, Glad we did not. Because when Bubble bursts, It hits so hard, It can never be recovered !!!
Parag Donarkar• 2 hours ago
Increase the interest rate on fixed deposit. There is no reason why bank should earn so much profits. They should distribute their profits in form of interests on fixed deposits.
Parag Donarkar • 2 hours ago
Increase the interest rate on fixed deposit
sam mm • 3 hours ago
In this economy are richer not getting richer and poorwr.remaining in same place??
Dreet• 5 hours ago
Shapoor Bomanjee • 3 hours ago
Sky rocketing prices makes the common man run away from buying flats. These contractors want 200% or more as profit. Who will buy except the corrupt.
Bhavesh Gandhi• 42 mins ago
Unsold inventory because many are benami properties owned by politicians and revenue department officers. With demonitization and Aadhar they cannot sell the properties and stay invisible, so they are stuck with this benami properties. Government should take steps to find out who owns these properties..
Abcd • 53 mins ago
House bubbles are not new. It gets created in every economy during economic boom. It happened in Japan, USA, South East Asia etc.
Sarma V S • 1 hour ago
This guy is either ignorant or deliberately misleading the nation. There are 10 lakh unsold houses worth around 8 lakhs crores in 8 major cities in india.
NPAs are building up in banks and NBFC for the advances given to the real estate sector. We are staring at our own sub prime crisis in India
Rob Sellars• 42 mins ago
Yep he should quote sources but BJP govt does not release any credible data through worry that people will come to know true picture. Your figures sound more credible but where do they come from?
Amit Bharti • 2 hours ago
Slow down in real estate is due to 3 factors. One, black money financing the initial capital requirement of builder has gone away. Two, those having black money to buy are not buying, due to fear of being caught. Three, those who were genuine buyers are not investing, as higher than average returns on these investments are not available. There is just the scope for affordable housing. Demonitization has done its job.
HonestAnt App• 2 hours ago
Neither they are going to sold as they are overpriced.
Rob Sellars• 39 mins ago
Yes they are most expensive real estate in the world and yet sit in the worst infra structure in the world! Price adjustment will have to happen before common man can expected to afford his own property
Arun • 2 hours ago
Why are they launching new housing schemes?
Jagdip Vaishnav • Mumbai • 3 hours ago
This is because Economy id down, Purchasing power of common man is crippled ,& restrictions on cash transactions
sam mm• 3 hours ago
3 biggest scam of Modi Govt - 1) Demonetization 2) Electoral BONDS , 3) Mudra Loans , u might say we are not affected by all.this but the truth is u r affected by it in such a way that u cannot even realise , the housing sector is affected by Demonetization
Chinmay Bedarkar • 3 hours ago
Rates are so exorbitant that people don't find worth investing in purchasing new houses.
Keerthi Vardhan • 3 hours ago
Yeah sure especially when they are not affordable.
Sambappa Kalvala • 3 hours ago