Mumbai faces a real estate crisis with Rs275 billion invested since 2005 yielding few returns, leaving many flats vacant and buyers confused amid rising costs and regulatory changes.
Parsvnath Developers is in talks with Sahara Group and ICICI Bank to sell its 1.18-acre plot near Connaught Place, aiming to reduce its Rs 1,300 crore debt.
India's property market to attract $3 billion from overseas buyers, despite high prices, driven by robust economy and growing middle-class population.
Commercial real estate demand surges as recession ends, with 9.2 million sq ft leased in three months, up from 5.8 million sq ft in 2009.