Supreme Court's recent landmark verdict on the Amrapali case has brought the limelight back to the the Indian realty sector and lakhs of home buyers as numbers of incomplete and stalled housing projects continue to be on the rise creating "ghost cities" by the day.

The magnitude of the country's real estate sector's dark reality can be gauged from the fact that around 1.74 lakh homes in 220 projects across the top seven cities in the country are completely stalled, as per the data from Anarock Property Consultants.

"Launched either in 2013 or before, these projects have absolutely no construction activity going on. The overall value of all stalled units is estimated to be more than Rs 1,774 billion (Rs 1.77 lakh crore). Most of these projects have been grounded due to either liquidity issues or litigations," the Anarock report said.

Around 1.15 lakh homes, which accounts for nearly 66 per cent of the total stalled units have already been sold to buyers who have been left in the lurch, at the mercy of either the concerned developers or the law of the land. The net estimated value of these sold units is around Rs 1.11 lakh crore.

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