Mumbai: Despite a surge in residential construction across Mumbai, the city currently has over 80,000 unsold housing units, according to a report by Liases Foras, a leading real estate research firm. However, developers insist there is no cause for alarm, maintaining that sales are continuing at a steady, if cautious, pace.
Despite a surge in residential construction across Mumbai, the city currently has over 80,000 unsold housing units, according to a report by Liases Foras, a leading real estate research firm. However, developers insist there is no cause for alarm, maintaining that sales are continuing at a steady, if cautious, pace.
Of the total unsold inventory in Mumbai, around 8,000 apartments are ready-to-move-in, while the remaining 72,000 units are under construction.
Redevelopment Boom Drives Inventory
The large stockpile is largely attributed to thousands of redevelopment projects currently underway across the city.
“There is a huge housing stock entering the Mumbai market due to extensive redevelopment activity,” said Pankaj Kapoor, Managing Director, Liases Foras.
“Sales are taking place, but buyers are proceeding cautiously. We are seeing genuine end-users taking more time to finalise their decisions”, he added.
In 2025 alone, 47,404 apartments were sold in Mumbai, reflecting continued demand despite rising supply.
MMR Inventory Crosses 3 Lakh Units
The situation appears more pronounced in the Mumbai Metropolitan Region (MMR)—which includes Navi Mumbai, Thane, and Raigad—where unsold inventory has touched 3,05,155 housing units. During the same period, 1,67,497 apartments were sold across the MMR, indicating active but measured absorption.
Developers Call Market ‘Stable’
Industry body CREDAI-MCHI dismissed concerns over the high inventory levels, describing the market as stable.
“We are witnessing good sales momentum, and the market has improved substantially,” said Sukhraj Nahar, President, CREDAI-MCHI. He further said, “Unsold inventory is not a concern. Developers today have strong holding capacity, and liquidity is not an issue.”
Echoing similar views, Tapas Chaturvedi, Managing Director of Shreepati Group—currently undertaking 12 redevelopment projects in Mumbai—played down the inventory numbers.
“Sales may dip in some months, but overall buyer sentiment is strong,” Chaturvedi said and added, “Economic activity has picked up, and buyers are willing to pay a premium for projects developed by established, branded builders.”
Recovery After Years of Slowdown
The Mumbai real estate sector had been in a prolonged slowdown, with unsold inventory exceeding 100,000 units for several years. However, over the last two years, there has been a gradual improvement.
Key factors aiding recovery include Lower home loan interest rates by the Reserve Bank of India, Easing of lending norms and Price stability, with developers largely refraining from sharp price hikes over the past four years
Industry observers believe these factors have helped restore buyer confidence, even as supply continues to expand.
Mumbai: Despite a surge in residential construction across Mumbai, the city currently has over 80,000 unsold housing units, according to a report by Liases Foras, a leading real estate research firm. However, developers insist there is no cause for alarm, maintaining that sales are continuing at a steady, if cautious, pace.
Of the total unsold inventory in Mumbai, around 8,000 apartments are ready-to-move-in, while the remaining 72,000 units are under construction.
Redevelopment Boom Drives Inventory
The large stockpile is largely attributed to thousands of redevelopment projects currently underway across the city.
“There is a huge housing stock entering the Mumbai market due to extensive redevelopment activity,” said Pankaj Kapoor, Managing Director, Liases Foras.
“Sales are taking place, but buyers are proceeding cautiously. We are seeing genuine end-users taking more time to finalise their decisions”, he added.
In 2025 alone, 47,404 apartments were sold in Mumbai, reflecting continued demand despite rising supply.
MMR Inventory Crosses 3 Lakh Units
The situation appears more pronounced in the Mumbai Metropolitan Region (MMR)—which includes Navi Mumbai, Thane, and Raigad—where unsold inventory has touched 3,05,155 housing units. During the same period, 1,67,497 apartments were sold across the MMR, indicating active but measured absorption.
Developers Call Market ‘Stable’
Industry body CREDAI-MCHI dismissed concerns over the high inventory levels, describing the market as stable.
“We are witnessing good sales momentum, and the market has improved substantially,” said Sukhraj Nahar, President, CREDAI-MCHI. He further said, “Unsold inventory is not a concern. Developers today have strong holding capacity, and liquidity is not an issue.”
Echoing similar views, Tapas Chaturvedi, Managing Director of Shreepati Group—currently undertaking 12 redevelopment projects in Mumbai—played down the inventory numbers.
“Sales may dip in some months, but overall buyer sentiment is strong,” Chaturvedi said and added, “Economic activity has picked up, and buyers are willing to pay a premium for projects developed by established, branded builders.”
Recovery After Years of Slowdown
The Mumbai real estate sector had been in a prolonged slowdown, with unsold inventory exceeding 100,000 units for several years. However, over the last two years, there has been a gradual improvement.
Key factors aiding recovery include Lower home loan interest rates by the Reserve Bank of India, Easing of lending norms and Price stability, with developers largely refraining from sharp price hikes over the past four years
Industry observers believe these factors have helped restore buyer confidence, even as supply continues to expand.
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