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Unsold homes in 9 cities down 7% in last 3 months; 12% fall in NCR: Rpt

Unsold housing inventories fell 7 per cent in the last three months across 9 major cities to around 4.81 lakh units on higher sales than new supply, according to PropEquity.
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.
PropEquity founder and Managing Director (MD) Samir Jasuja said the unsold housing stocks have declined as “sales are surpassing the new launches which is a positive indicator for the market”.
During January-March period of 2024, housing sales across 9 major 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.
As per the data, Pune saw the maximum 13 per cent fall in