Unsold inventory is a symptomatic, not the causes, of the housing industry's problems.
Why does India have unsold inventory when there is such a severe housing shortage? We look at the causes. Isn't it strange that housing oversupply in India's major cities is keeping developers on edge in a country where housing shortage is at the centre of policy discussions? In actuality, there is an even larger degree of imbalance caused by unsold housing units than by the housing shortage. Unsold inventory, however, is only a symptom and not the root of the nation's housing market's ills.
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More than 30 million housing units are lacking in India's cities. However, just in the top 10 cities, there are almost 7 lakh units of unsold inventory. When one takes into account the 30 major cities in the nation, this number doubles. Two lakh to 2.5 lakh units have not been sold annually in the Indian housing sector. The amount of new releases each year is another factor that contributes to the confusion in the housing market, where the unsold inventory is always the dominant reality.