The time for selling home inventory has decreased due to the nationwide increase in demand for homes. A significant real estate consultancy, JLL, released a report based on analyses conducted in Delhi, Mumbai, Pune, Bengaluru, Chennai, Hyderabad, and Kolkata. With reference to the time available until February 2019, if we compare it to the present, there has been a reduction by 22 days. Looking at the price range, the premium segment has experienced the most reduction in sales time. With December 2019 as the reference, within 51 days, this sales time decreased by 43 percent and reached 29 days. After that, homes priced up to 75 lakhs experienced a 40 percent reduction in sales time. The inventory of unsold homes can now be cleared within 19 days.
In the last four years, significant increases have been observed in premium segment annual launches as well as in the annual launches of the mid-segment. In terms of inventory sales time, the premium segment decreased by 22 percent. Similarly, in homes priced from 75 lakhs to 1 crore, the sales time also decreased from 27.5 percent to 21 days. The sales time of homes priced above 1 crore decreased by 11 percent. In city-wise analysis, inventory sales occur within 13 days in Bangalore, 14 days in Delhi, and 15 days in Kolkata. In Delhi, the lowest is at 48 days, now reduced to 14 days.
