Unsold Inventory
Introduction
With real estate developers still struggling to cope with the problem of unsold inventory, we look at how the recent policy changes impact the scenario and whether buyers have anything to gain.
Unsold units
The number of unsold housing units in the seven major cities of India, stood at 6.85 lakh units at the end of the September 2017 quarter, according to a report by Anarock Property Consultants. This was a fall of nine per cent, from the year-ago period. Moreover, the national capital region (Delhi-NCR) had the maximum number of unsold units at two lakhs. Although the number declined by 12,000 units from the September quarter of 2016.
Unsold inventory is the highest in Delhi-NCR at 2.60 lakh units, with Greater Noida and Noida accounting for 1.25 lakh units, followed by Delhi, Faridabad and Ghaziabad with 75,000-80,000 units. This situation has been building up from 2009 onwards, until 2016. South India is in a much better position, as compared to the Delhi-NCR. Mumbai too has more unsold property than south India and its share is about 26-28 per cent. Only 16-20 per cent of the unsold inventory lie in Chennai, Hyderabad and Bengaluru, for example. The reason is that south India’s real estate development happened in phases, as per the demand and market requirements
A short video on what unsold inventory is, where the top 8 cities are on that index and more.
