Mumbai, October 2026: India’s stock of unsold homes has grown again, and Mumbai holds the largest share of it. A Hindustan Times report by Ateeq Shaikh, based on Liases Foras data, puts unsold residential inventory at over 865,000 units at the end of the first half of FY 2026-27, a rise of 2.7%. The report carries the views of Raahul Maroo, Founder & Managing Director of Tat:vm Builders & Developers Pvt Ltd., on what this situation means for developers and buyers.

The numbers at a glance

Indicator (Liases Foras, as reported by HT)

Figure

Unsold homes across India, end of H1 FY 2026-27

Over 865,000 units, up 2.7%

Unsold homes in MMR

260,629 units, up 0.4%

MMR’s share of national unsold stock

About 30%

MMR housing sales in Q2

34,552 units, down 0.1%

MMR new launches in Q2

30,262 units, up 18.7%

MMR average weighted price

₹25,199 per sq ft, up 1.3%

Nearly one in three unsold homes in the country is in the Mumbai Metropolitan Region. MMR also has the highest average price among the eight major cities tracked.

Supply is running ahead of sales.

MMR sales were flat in the quarter while launches rose by almost a fifth. The report notes a similar gap nationally, with the CRE Matrix estimating about 2.58 lakh homes sold against about 2.98 lakh launched in H1 2026.


Other cities were mixed. NCR saw the sharpest fall in sales at 2.4%, and its average price dropped 5.9% to ₹22,115 per sq ft because new launches were priced lower. Bengaluru slipped slightly. Pune, Hyderabad, Ahmedabad, and Chennai gained momentum, and Kolkata was flat.

What Raahul Maroo told Hindustan Times

Mr Maroo told the paper that the coming few years will be a crucial test for the sector. Construction costs are going up, he said, but developers “cannot keep increasing prices indefinitely without testing affordability and demand.”


He referred to Warren Buffett’s distinction between price and value: the price a developer needs to charge and the price a buyer will accept are not always the same. In his view, the strain will show up in project margins and cash flows. Developers carrying heavy debt or working on thin margins may struggle to keep construction going, which can mean delays and, in some cases, stalled projects.

Developers are turning cautious.

The report describes a careful mood among MMR developers. One mid-sized developer from the western suburbs told the paper that the firm has slowed new acquisitions and is concentrating on completing what it already has in hand.

What this means for homebuyers

More inventory gives buyers more choice and more room to negotiate. It also raises the importance of who you buy from. When margins are under pressure, the financial discipline and delivery record of builders in Mumbai matter as much as the flat itself.


This is where rankings mislead. A search for the top 10 builders or top developers in Mumbai shows only size and advertising spend. It does not show debt levels or delivery history, which is what Mr. Maroo’s warning is about. Our guide to real estate builders in Mumbai lists the checks worth making before you book, and our overview of real estate development in Mumbai explains how projects are approved and built.


At Tat:vm, we plan each project around five fundamentals and long-term value. As real estate developers in Mumbai with two decades of experience, we believe that the realty developers in Mumbai who come through this cycle well will be the ones who priced honestly and built on time.

Beyond new launches: redevelopment and commercial space

The inventory figures cover new housing supply, but much of the city’s future stock will come from older buildings. Redevelopment projects in Mumbai depend heavily on funding and timelines, so the cash-flow pressure Mr. Maroo describes is important to societies choosing among redevelopment builders in Mumbai.

Our notes on building redevelopment in Mumbai, Mumbai slum redevelopment and SRA builders in Mumbai explain how these schemes work. Societies can also read how Tat:vm approaches redevelopment, as one of the builders & developers in Mumbai that specialize in it.

Housing is also only one part of the market. Demand for commercial office space in Mumbai is being driven by small and medium businesses, and many are looking east.

If you are searching for commercial property in Ghatkopar West, an office for sale in Ghatkopar West, or commercial office space near Ghatkopar; see our upcoming Ghatkopar mixed-use project. Buyers weighing commercial office space in Ghatkopar West against South Mumbai can also look at our Marine Lines commercial project.

The festive season is the next test.

Liases Foras expects the festive months to show whether sales can keep up with new supply, particularly in Pune and Hyderabad. Mr. Maroo recently wrote about why the festive season is India’s homebuying season, and this year, observers will watch that pattern closely.

If you are looking at the eastern suburbs, see our guide to new projects in Ghatkopar West or our upcoming Ghatkopar residential project.


Read More: Original article on Hindustan Times

Frequently Asked Questions

1. How many unsold homes are there in India right now?

Over 865,000 units at the end of H1 FY 2026-27, according to Liases Foras data reported by the Hindustan Times. That is 2.7% higher than before.

2. How much of India’s unsold housing stock is in Mumbai?

About 30%. The Mumbai Metropolitan Region has 260,629 unsold units, the largest share of any city region.

3. Why is unsold inventory rising in MMR?

New supply is growing faster than sales. In Q2 of FY 2026-27, launches rose 18.7% to 30,262 units while sales stayed flat at 34,552 units.

4. Are property prices in Mumbai falling?

No. The average weighted price in MMR rose 1.3% to ₹25,199 per sq ft, the highest among the eight major cities in the report.