Unsold houses decline 7% in March quarter

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Realty sales have been rising in the past few quarters and according to a report by PropEquity, there has been a 7% drop in unsold inventory in the last quarter in 9 major cities to around 4.81 lakh units. The real estate data analytic firm PropEquity data showed that unsold housing stock has come down to 4,81,566 units at the end of March this year from 5,18,868 units at the end of December 2023 across 9 major cities.

These cities are Mumbai, Navi Mumbai, Thane, Delhi-NCR (Delhi, Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad), Bengaluru, Hyderabad, Pune, Chennai and Kolkata.

During January-March 2024, housing sales across these cities stood at 1,44,656 units while the new launches were 1,05,134 units. This led to a reduction in the unsold stocks.

Pune saw the maximum 13 per cent fall in the unsold housing stocks to 65,788 from 75,521 units at the end of December 2023.

In Delhi-NCR, the unsold inventories dropped by 12 per cent to 27,959 units from 31,602 units. In Mumbai fell 11 per cent to 48,399 units from 54,633 units. In Navi Mumbai, the unsold inventories declined 11 per cent to 33,385 units from 37,597 units. Thane witnessed a fall of 5 per cent in unsold housing stocks to 1,06,565 units from 1,12,397 units.

Unsold housing stocks in Bengaluru have come down 5 per cent to 44,837 units from 47,370 units. Hyderabad witnessed a 4 per cent fall in unsold stocks to 1,10,425 units from 1,14,861 units. In Kolkata, the fall in unsold housing stocks was 2 per cent to 23,249 units from 23,745 units.