50% of south-central Mumbai's high-end apartments unsold: Anarock Property

Of the luxury apartments in the south-central portion of Mumbai which were launched after 2013, half are still unsold, says Anarock Property Consultants.

Prabhadevi, Worli and Mahalaxmi are some of the localities in this area, with projects of Lodha Developers, Omkar Developers and Raheja, among others.

Anarock’s report estimates the unsold stock at nearly 11,000 units. The reasons it gives include rocketing prices and a demand-supply mismatch. For properties priced at Rs 4 crore onward, the entire Mumbai Metropolitan Region (MMR) saw new supply of nearly 27,000 units between 2013 and the first quarter of 2019. Of this, south-central Mumbai localities alone