Bengaluru Needs Least Time To Clear Unsold Flats, Delhi-NCR Highest: Anarock Report
The top seven property markets of India had total unsold stock of nearly 6.56 lakh units at the end of September 2019.
Real estate developers in Bengaluru will take the least time to clear their stock of unsold residential flats while those in Delhi National Capital Region will take the highest, property consutant Anarock said in a report released Wednesday.
Overall unsold residential inventory across top seven cities—Delhi-NCR, Mumbai Metropolitan Region, Chennai, Kolkata, Bengaluru, Hyderabad and Pune—stood at 6.56 lakh units at the end of the September quarter— a fall of 5 percent on a yearly basis and nearly 12 percent in two years. "Unsold residential inventory overhang in Top 7 cities reduced to 30 months as of Q3 2019 against 37 months in the corresponding period of 2018,” the Anarock report said.
Here’s how long the seven cities will take to clear their inventory of unsold flats:
- Bengaluru: 15 months
- Hyderabad: 16 months
- Pune: 27 months
- Chennai: 31 months
- Mumbai: 34 months
- Kolkata: 38 months
- Delhi-NCR: 44 months
Unsold inventory overhang indicates the number of months it shall take for the current unsold housing stock to get cleared in the current market scenario. At any given point, an inventory overhang of 18-24 months is considered quite healthy.
"Builders now are following a laser-focused approach towards clearing their previous unsold stock. Simultaneously, unlike earlier, builders have now also limited their new supply into the market," Anarock Chairman Anuj Puri said.
