Unsold Homes' Inventory Falls 7 Per Cent In Jan-March, Pune Sees Max Decline Of 13 Per Cent: PropEquity

The data analytic real estate company said that the number of unsold houses slipped to nearly 4.81 lakh units as of March end, against 5,18,868 unsold units at December 2023 end, across nine cities

 Unsold home listings declined 7 per cent in the last three months in nine major cities in India on robust sales against supply, real estate firm PropEquity revealed. The data analytic real estate company said that the number of unsold houses slipped to nearly 4.81 lakh units as of March end, against 5,18,868 unsold units at December 2023 end, across nine cities. 

The study included the real estate market in nine cities namely, Mumbai, Navi Mumbai, Thane, Delhi-NCR, Bengaluru, Hyderabad, Pune, Chennai, and Kolkata, reported PTI. Elaborating on the findings, Samir Jasuja, Founder and MD, PropEquity, said, “The unsold housing stocks have declined as sales are surpassing the new launches which is a positive indicator for the market.”

The data revealed that during the January-March 2024 period, housing sales across these cities touched 1,44,656 units, while new launches stood at 1,05,134 units. This resulted in a fall in the unsold inventory. 

Amongst the cities, Pune recorded the highest decline of 13 per cent in the unsold houses’ stock to 65,788 units as of March end, against 75,521 units as of December 2023 end. 

The unsold units in Delhi-NCR slipped 12 per cent to 27,959 units in the period under review, from 31,602 units in the preceding quarter. At the same time, unsold housing units in Mumbai fell 11 per cent to 48,399 units from 54,633 units, while the same in Navi Mumbai stood at 33,385 units, down by 11 per cent from 37,597 units in the October-December quarter.

Thane also logged a fall of 5 per cent in unsold homes to 1,06,565 units from 1,12,397 units sequentially. The unsold inventory in Bengaluru slipped 5 per cent to 44,837 units from 47,370 units, while Hyderabad reported a fall of 4 per cent in the stocks to 1,10,425 units from 1,14,861 units. The fall was the minimum in Chennai, where unsold inventory stood at 20,959 units in the quarter under review, against 21,142 units as of December end 2023, marking a decline of 1 per cent. Kolkata followed this with a fall of 2 per cent to 23,249 units from 23,745 units sequentially.