Unsold housing stock in the top eight cities increased marginally to 9 lakh units in the March quarter.
Synopsis Unsold inventory increased to 9, 01,967 units in the very first quarter of this year, up from 8, 94,100 the previous quarter, according to the data. The Mumbai Metropolitan Region (MMR) & Delhi-NCR, India's two largest property markets, account for half of the total unsold property stocks across eight cities in the first quarter of this calendar year.
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According to a survey by CII, Colliers India, and Liases Foras, unsold housing stock climbed by 1% to 9.01 lakh units in January-March 2022 across eight key cities, compared to the previous quarter, due to increased new residential property launches. Unsold inventory increased to 9, 01,967 units from the first quarter of this year, up from 8,94,100 the previous quarter, according to the data. The Mumbai Metropolitan Region (MMR) & Delhi-NCR, India's two largest property markets, account for half of the total unsold property stocks across eight cities in the first quarter of this calendar year.
According to a joint analysis by industry group CII, property consultant Colliers India, and data analytics firm Liases Foras, the MMR has the biggest share of unsold inventory at 32 percent, followed by Delhi-NCR (18 percent), and Pune (14 percent).
"From Q2 2020 to Q4 2021, unsold inventory declined steadily as market demand improved, boosted by low loan rates and generally consistent price." However, in Q1 2022, a rise in launches and the third wave of COVID resulted in an increase in unsold inventory. As a result, after falling for seven quarters in a row, unsold inventories increased by 1% QoQ (quarter-on-quarter) "According to the report,
During the period under consideration, unsold housing stocks in Hyderabad increased by a maximum of 14%, from 59,716 to 68,243 units. Unsold housing stocks in Ahmadabad increased by 6% to 73,769 units from 69,736 units.
Unsold housing stocks increased by 4% to 2, 91,266 units, up from 2, 81,382 units in the MMR.
According to the statistics, Bengaluru's unsold housing stocks declined 5% to 70,927 units in January-March 2022, down from 74,890 in the previous quarter.
Chennai, too, experienced a 5% drop in unsold homes to 75,164 units from 79,262 units, while the Delhi-NCR market saw a 3% drop to 1, 58,563 units from 1, 62,766 units.
Unsold housing stocks in Pune fell 2% from October to December 2021 to 1, 23,665 units in January-March 2022, down from 1,25,662 units in October-December 2021. During the year under review, Kolkata saw a little drop of 1% to 40,370 units from 40,686 units.
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