Nine city unsold home sales down 7% over the past three months; NCR down 12%: Report

By Bricksnwall | 2024-03-31

Nine city unsold home sales down 7% over the past three months; NCR down 12%: Report

PropEquity is an online platform for real estate data and analytics spanning over 1,50,000 properties from 45,000 developers in 44 locations. It is owned and operated by P E Analytics.


PropEquity reports that unsold housing inventories in nine major cities decreased by 7% in the last three months to approximately 4.81 lakh units due to stronger sales than new supply.The number of unsold housing units dropped to 4,81,566 at the end of March this year from 5,18,868 at the end of December 2023 across nine major cities, according to data from real estate analytics company PropEquity. The number of unsold housing units dropped to 4,81,566 at the end of March this year from 5,18,868 at the end of December 2023 across nine major cities, according to data from real estate analytics company PropEquity.


Mumbai, Navi Mumbai, Thane, Bengaluru, Hyderabad, Pune, Chennai, Kolkata, and Delhi-NCR (Delhi, Gurugram, Noida, Greater Noida, Ghaziabad, and Faridabad) are some of these cities. Managing Director (MD) and founder of PropEquity Samir Jasuja stated that "sales are surpassing the new launches which is a positive indicator for the market" and that as a result, unsold housing stocks have decreased. Managing Director (MD) and founder of PropEquity Samir Jasuja stated that "sales are surpassing the new launches which is a positive indicator for the market" and that as a result, unsold housing stocks have decreased.


In nine major cities, there were 1,44,656 housing sales between January and March of 2024, compared to 1,05,134 new homes being launched. The quantity of unsold goods dropped as a result. Pune's unsold housing stock decreased by a maximum of 13%, from 75,521 units at the end of December 2023 to 65,788 units at the end of this month, according to the available information. Pune's unsold housing stock decreased by a maximum of 13%, from 75,521 units at the end of December 2023 to 65,788 units at the end of this month, according to the available information.

The number of unsold inventory in Delhi-NCR has decreased by 12%, from 31,602 units to 27,959 units. PropEquity reports that the unsold stock in Mumbai decreased by 11%, from 54,633 units to 48,399 units. PropEquity reports that the unsold stock in Mumbai decreased by 11%, from 54,633 units to 48,399 units.

 

Unsold inventory in Navi Mumbai dropped by 11% to 33,385 units from 37,597 units. The number of unsold housing stocks in Thane decreased by 5% to 1,06,565 from 1,12,397 units. The number of unsold housing stocks in Thane decreased by 5% to 1,06,565 from 1,12,397 units.


Source: Money Control