Knight Frank India have announced the launch of their database product “eyestate” in India with some shocking stats coming from it on the state of the market.

28% of homes with the R’s3.5M band
Its shows that 28% of the properties under construction within the 7 urban centres cater to households looking for homes within the INR. 3.5 mn. category. This product caters to the needs of approximately 80% of urban households. Contemporary market belief would lead us to assume that all or most of this product would be absorbed as it is within the affordability criteria, but this is not the case. An astonishingly high 44% of these housing units are unsold today.

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Tags: indian housing, Knight Frank, vacant property in India

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