The number of unsold units is increasing across the country. The number of such units across 8 cities is put at 7.85 lakh. Going by the current rate of sale of housing units, it is estimated that it will take at least 32 months to clear the inventory, according to noted realty portal Prop Tiger.com. However, in Delhi-NCR residential market — which has been adversely impacted due to defaults of many big builders like Amrapali, Jaypee Infratech and Unitech — it will take 62 months to sell over 1 lakh unsold housing units.
According to PropTiger.com, the number of unsold units has increased to 7,85,260 from 7.63,650 units as on Sep 30 this year. These units are located in Ahmadabad, Delhi, Chennai, Bengaluru, Hyderabad, Kolkata, Mumbai and Pune. The sale of units in these cities during July-September this year has increased by 49 per cent, compared to the sale during the corresponding period last year. This year the number of units sold in the period was 83,220 as against 55,910. With revival in housing demand, Prop Tiger report highlighted that there has been a significant decline in the inventory overhang.
Prop Tiger noted revival in sales after the second wave of the pandemic has helped in improvement in inventory overhang. Kolkata has the lowest inventory overhang of 24 months, while Delhi-NCR has the highest, 62 months. Nearly 21 per cent of the unsold inventory across these eight cities falls in ready-to-move-in category. As per the data, Ahmadabad has 65,160 unsold housing units at the end of September quarter with inventory overhang of 30 months. Unsold housing stocks in Bengaluru are 77,260 units and builders will take 28 months to clear the inventories. Chennai has 32,180 unsold housing units with 27 months of inventory overhang, while Delhi-NCR has 1,00,770 unsold stocks, which are estimated to get exhausted in whopping 62 months. Unsold homes in Hyderabad are 99,090 units with inventory overhang of 41 months.
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