About 12% Of Unsold Houses In Top Seven Cities Are Ready For Possession, Report Says
Nearly 6.56 lakh homes were lying unsold in top seven cities as of third quarter of 2019, says Anarock.
Ready-to-move-in houses constitute nearly 12 percent of the total unsold units in India’s top seven cities, according to Anarock Property Consultants Pvt. Ltd.
Nearly 6.56 lakh homes were lying unsold in top seven cities as of third quarter of 2019, Anarock Property said in a research report said. Of these, 81,300 units were ready to be occupied, it said.
“Homebuyers seeking ready-to-move-in properties in the ongoing festive quarter are spoiled for choice,” said Anuj Puri, chairman at Anarock Property Consultants, said.
Among the top seven cities, Mumbai Metropolitan Region has the maximum unsold ready-to-move-in apartments, followed by the National Capital Region and Pune. Hyderabad has the least ready stock, the report said.
In percentage terms, Chennai tops with the highest ready-to-move-in unsold houses over the overall ready stock, followed by Bengaluru and Pune, the report showed.
Here’s affordability-wise data of the 81,300 ready-to-move houses in top seven cities as per ANAROCK Research:
- Below Rs 40 lakh: Nearly 35 percent or about 28,830 ready stock units under the segment were unsold, data showed, with Mumbai and Pune having the maximum units at 9,370 and 5,990, respectively.
- Between Rs 40-80 lakh: About 32 percent or 26,180 ready-to-move-in houses remained unsold. Bangalore, Pune and NCR have the maximum ready units under this segment with about 5,300 units, 5,140 units and 5,060 units, respectively.
- Between Rs 80 lakh and Rs 1.5 crore: Nearly 20 percent or 16,290 ready units were unsold. Mumbai Metropolitan Region, NCR and Pune collectively have over 10,170 ready units in this range.
- Above Rs 1.5 crore: Nearly 10,000 ready stock under this segment. Mumbai Metropolitan Region and NCR constitutes nearly 66 percent in the segment.