In Delhi-NCR, the number of unsold housing stock decreased by 7 per cent to 37,356 units from 40,211 units.
Nine large cities in the country have seen improvements in unsold houses or flat inventories (Unsold housing stock). The unsold housing stock in nine major cities fell from 3 per cent to 5 per cent during the July-September period. This has been revealed in a report by data analytic firm PropEquity. According to the report, the unsold housing inventory has come down to 5,08,464 units at the end of the September quarter, compared to 5,26,497 units on 30 June this year.
Housing prices are rising in major Indian cities
According to the news, during the July – September quarter, proficiency data showed that home sales were 1,15,904 units, while new supplies in nine major cities were 97,871 units. This resulted in a decline in the number of unsold homes. Housing prices in major Indian cities have been rising in the years following Kovid. Sameer Jasuja, founder and CEO of PropEquity, said that although this increase in capital prices is attracting investors to India’s major real estate (Real Estate) markets, the unsold housing stock has declined.
Demand for homes expected to improve
Jasuja said that if the interest rates on home loans remain stable or soften in the coming months, we expect a growth in housing demand. In nine cities, the unsold housing stock in Hyderabad rose 6 per cent to 1,05,240 units in the September quarter, from 99,589 units at the end of June. The number of unsold homes in Bengaluru increased from 54,084 units to 54,404 units with a slight increase of 1 per cent during the period under review.
The number of unsold homes in Pune decreased by 10 per cent
Navi Mumbai also saw a 1 per cent increase in the number of unsold housing stock, which increased from 34,780 units to 34,983 units. However, the number of unsold homes in Thane fell by 6 per cent from 1,12,100 units to 1,04,959 units. The number of unsold homes in Pune dropped by 10 per cent from 79,405 units to 71,220 units, While Mumbai declined by 4 per cent from 63,637 units to 61,142 units.
Delhi-NCR also decreased
In Delhi-NCR, the number of unsold housing stock decreased by 7 per cent to 37,356 units from 40,211 units. Unsold homes in Chennai fell 7 per cent from 21,663 units to 20,048 units. In Kolkata, the number of unsold homes list fell by 9 per cent to 19,112 units at the end of the July-September period, compared to 21,028 units at the end of June this year. The data includes apartments, independent houses and villas.
