Stuck housing projects weighing down India realty

Mumbai

INDIA'S property market won't recover meaningfully unless developers find solutions to 4.64 trillion rupees (S$90.2 billion) worth of housing projects that have been stranded for years, according Anarock Property Consultants.

The Indian residential property market has been battling a slowdown this decade and despite several government reforms including a new consumer protection law and a nationwide sales tax, buyers have stayed away as questions remain over the future of stalled and delayed projects.