Chennai: The unsold inventory in the seven top cities has come down by 19 per cent to 5.8 lakh units since 2018 with the National Capital region seeing 57 per cent decline.
The unsold inventory in top cities stood at around 7,13,394 units as of Q1 2018-end. This declined by 19 per cent to 5,80,894 units as of Q1 2024-end.
NCR’s unsold stock declined from over 2 lakh units at Q1 2018-end to around 86,420 units by Q1 2024-end. In the same period, the main southern cities saw their unsold stock decline from over 1.96 lakh units in Q1 2018 to over 1.76 lakh units in Q1 2024.
“What really worked for the NCR market was developers’ determination to keep new supply additions under control. Anarock data indicates that NCR witnessed a total new supply of 1.81 lakh units between Q1 2018 to Q1 2024. In contrast, the southern and western markets saw significantly higher new supply additions of 6.07 lakh units and 8.42 lakh units respectively," Santhosh Kumar, Vice Chairman - Anarock Group.
South India’s relatively low decline in unsold inventory is attributable to a massive new launch rate in Hyderabad, most notably over the last two years. The city saw its housing stock almost quadruple in the last five years. Bengaluru saw unsold inventory decline by 50 per cent in this period.
In the West, Mumbai and Pune saw unsold stock decline by 8 per cent in the last five years - from around 3.13 lakh units in Q1 2018 to 2.90 lakh units in Q1 2024. end
