mumbai as many as 77460 apartments worth rs 3044 crore remain unsold in mumbai thane and navi mumbai of these 2600 units or 335 are fully constructed said a survey carried out by jll india along with the maharashtra chamber of housing industry mchicredai developers claimed its a positive sign considering last years figure of completedyetunsold apartments was 3094 the report released on wednesday showed that in mumbai and thane just 11 and 13 of the total unsold units are ready for possession respectively in navi mumbai the proportion is much higher at 81 the total unsold inventory would take more than 30 months to sell it added mchicredai president dharmesh jain said the mumbai metropolitan region was now looking at a stable period considering the average fouryear cycle for a 30storey building an inventory of 25 years is not much he added sluggish sales could also be because most of these 2600 units are priced above rs 1 crore which is an unaffordable range for many endusers while developers may think ticket sizes offered by them are justified the market seems to think otherwise said the research report in mumbai the western suburbs from vile parle to goregaon have 205 completedyetunsold units in the range of rs 2 crore and above a major chunk of the unsold units are concentrated in navi mumbai flats priced below rs 65 lakh are situated in emerging areas of navi mumbai like ulwe karanjade dronagiri etc or on faraway stretches off ghodbunder road in thane buyers are holding on to their purchase decisions expecting a price correction in this weak market their preference is to buy into completed projects data shows that while 18 buyers bought houses in the launch phase 27 did so nearing completion even after completion it takes developers at least two quarters to sell the entire remaining inventory the market has become largely enduserdriven and investors no longer park funds in residential real estate as the high returns that it was once known for have considerably diminished the report said there is a clear mismatch in demand and supply of product offerings even though endusers would like to buy in upcoming areas they do not the reason being a lack of social and physical infrastructure highly needed to attract endusers in these locations in such a scenario developers need to gauge market sentiment and reduce ticket sizes to align with more realistic prices they need to redesign the larger flats into smaller unit sizes wherever possible sales will improve if this happens said the report