Rs 1,500 crore needed to complete stalled projects in Mumbai region: Study

As many as 55,000 buyers have been affected by stalled projects in Mumbai Metropolitan Region and are awaiting completion of these projects

The stalled last-mile projects in Mumbai Metropolitan Region (MMR) will require an investment of about Rs 1,500 crore for completion, says a new study. As many as 55,000 buyers have been awaiting completion of these projects.

The Centre last week announced the setting-up of the Rs 25,000-crore alternative investment fund to revive the stalled projects across the country.

The study done by real estate analytics firm Propstack said that 1715 towers or 10 per cent of total RERA registered projects are stalled in MMR. Total area of these projects is 33.4 million sq ft of which 25 per cent of the