Ghost flats explained: Why some fully built homes remain empty despite India's housing shortage

Imagine a housing complex with gleaming towers, landscaped gardens, elevators and parking lots, but almost no one lives there. These are what the real estate industry informally calls "ghost properties".Such properties remain unoccupied for long periods despite being legally owned or available for possession. The phenomenon has become an increasingly visible feature of India's housing market.While millions of people continue to search for affordable homes, thousands of completed apartments across cities remain locked, unoccupied or held purely as investments.There are several reasons why homes become ghost flats. Some are purchased as investments, with owners hoping to benefit from rising property prices rather than living in or renting them out.Others remain vacant because of high rents, poor connectivity or a lack of schools, shops, hospitals and employment opportunities in the surrounding area.In some cases, infrastructure fails to keep pace with construction.