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The unsold housing inventory in Delhi-NCR has declined 57% within the final six years to 86,420 models on the finish of March quarter this 12 months, in accordance with Anarock.
Real property marketing consultant Anarock mentioned in its newest report that NCR’s unsold inventory declined from 2,00,476 models on the finish of the March 2018 quarter to 86,420 models as of March 31, 2024.
In the identical interval, the principle southern cities (Bengaluru, Hyderabad and Chennai) noticed their unsold inventory decline from 1.96 lakh models in Q1 2018 to over 1.76 lakh models in Q1 2024.
Santhosh Kumar, Vice Chairman of Anarock, mentioned, “What really worked for the NCR market was developers’ determination to keep new supply addition under control”.
Quoting Anarock’s information, he mentioned the NCR witnessed a complete new provide of about 1.81 lakh models between Q1 2018 to Q1 2024.
In distinction, southern and western markets witnessed considerably greater new provide additions of about 6.07 lakh models and eight.42 lakh models, respectively.
As per the information, the unsold housing shares in Gurugram fell to 33,326 models from 53,136 models.
Noida noticed a decline of 71% to 7,451 models from 25,669 models.
In Greater Noida, the unsold inventories fell 70% to 18,668 models in opposition to 61,628 models.
Ghaziabad too noticed a 70% decline in unsold shares to 11,011 models from 37,005 models.
In Faridabad, Delhi, and Bhiwadi mixed, the unsold inventories dipped 31% to fifteen,964 models as of March 31, 2024, from 23,038 models on the finish of March 2018.
Commenting on the information, Mohit Jain, Managing Director of Krisumi Corporation, mentioned the numerous discount in unsold stock, significantly in Delhi NCR, signifies robust demand in recent times.
“The high demand for housing is driven by those seeking a modern, luxurious, and integrated lifestyle,” Jain mentioned.
Gaurs Group CMD Manoj Gaur attributed the autumn to excessive demand for residential properties, particularly after the pandemic.
“At present, the supply and demand gap is at healthy levels,” he mentioned.
Ankush Kaul, Chief Business Officer of Ambience Group, mentioned the unsold stock is now a factor of the previous.
“The rising demand, especially, in the post-pandemic period combined with rapid infrastructural development and economic prosperity will ensure a bright future for the real estate sector,” he mentioned.
Source: www.thehindu.com
