There are around 2.26 lakh apartments in Mumbai Metropolitan Region and around 85,000 flats in the Greater Bombay that have remained unsold in 2015-16, said Mumbai-based property research firm Liases Foras.

Pankaj Kapoor, MD at Liases Foras, said that the price is a major factor, piling the unsold apartments in Mumbai and its peripheral areas. “Due to high prices, the sale of properties has affected badly. There is negligible sale because the property prices have not increased significantly in last one year. There is only marginal rise and this situation will prevail for the next year and so,” Kapoor said.

In terms of sale and property appreciation Gujarat is way ahead than Maharashtra. Ahmedabad has witnessed 32% rise in the property sales while in Mumbai it has been only 12%.