Inventories of luxury apartments in Mumbai remain high total 2,300 apartments are unsold. Minimum price of these flats are of RS 10 Crore and estimated price to RS 23 Crore. These apartments are very spacious and have all facilities of comforts.

Source from Prop Equity mentioned the unsold inventory in projects coming up in just the five micro markets of tony south Mumbai — Lower Parel, Mahalaxmi, Mumbai Central, Prabhadevi and Parel, stands at a staggering 928 apartments. Because unsold inventory is in advanced stages of construction, some of it commands a premium to the launch price. The value of unsold inventory in these five micro-markets could be in the range of R10, 000 crore.

Some developers are reducing the sizes of the apartments to make them more affordable. Radius Developers, for instance, is building 350 sq. ft carpet area studio apartments at less than R1 crore for singles.

Area like Lower Mumbai Parel, Mahalaxmi, Prabhadevi and Parel, sales remains tepid. In South and Central Mumbai areas, apartment sizes are typically between 4,000 sq ft and 7,000 sq ft accommodating three, four and five bedrooms. At the very least, they cost Rs 10 crore or approximately Rs 25,000 to Rs 30,000 per sq ft. For ready-to-move in-projects, the cost is in the range of Rs 65000 per sq. ft to Rs 80,000 per sq ft.