A recent data released by Proptiger.com, indicates that developers had an unsold stock of over 2.93 lakh units till July 2019 in Mumbai Metropolitan Region (MMR). Out of these, over 1.41 lakh units (over 48% of the stock) are priced up to ₹45 lakh. The latest in a series of government incentives was the ₹20,000 crore stress funds announced by finance ministry particularly to provide last-mile liquidity support for affordable and mid-segment housing projects. Earlier this year, government also reduced the rate of goods and services tax (GST) from 5% to 1% for under-construction affordable housing projects, effective 1 April 2019. If you are planning to buy a house in an affordable housing project, be careful about the location and ensure that the area has basic infrastructure in place.

Source: Mint September 27, 2019 09:22 UTC