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Unsold housing stock marginally rises to 9 lakh units in March quarter across top eight cities

Unsold housing stock rose marginally by 1 per cent to 9.01 lakh units throughout January-March 2022 across eight main cities as in contrast to the earlier quarter on elevated new launches of residential properties, in accordance to a report by CII, Colliers India and Liases Foras.

As per the info, the unsold inventories elevated to 9,01,967 units throughout January-March interval of this year from 8,94,100 units in the earlier quarter.

Out of the whole unsold housing shares across eight cities in the course of the first quarter of this calendar year, Mumbai Metropolitan Region (MMR) and Delhi-NCR, the 2 greatest property markets in India, contribute 50 per cent.

The MMR accounts for the best share of unsold stock at 32 per cent, adopted by Delhi-NCR (18 per cent) and Pune (14 per cent), in accordance to a joint report ‘Housing Price Tracker’ by business physique CII, property advisor Colliers India and knowledge analytics agency Liases Foras.

“Unsold inventory constantly dropped starting Q2, 2020 till Q4,2021 as demand improved in the market, led by low loan rates and largely stable prices. However, an increase in launches and third wave of COVID in Q1 2022, led to an uptick in the unsold inventory. Hence, after dropping for seven consecutive quarters, unsold inventory rose 1 per cent QoQ (Quarter-on-Quarter),” the report stated.

During the interval underneath review, Hyderabad witnessed a most 14 per cent rise in unsold housing shares at 68,243 units from 59,716 units.

Ahmedabad noticed a 6 per cent rise in unsold housing shares at 73,769 units from 69,736 units.

The MMR noticed a 4 per cent enhance in unsold housing shares at 2,91,266 units from 2,81,382 units.

According to the info, the unsold housing shares in Bengaluru fell 5 per cent to 70,927 units throughout January-March 2022 from 74,890 units in the earlier quarter.

Chennai, too, noticed a 5 per cent decline in unsold properties at 75,164 units from 79,262 units, whereas Delhi-NCR market witnessed a 3 per cent fall to 1,58,563 units from 1,62,766 units.

The unsold housing shares in Pune fell 2 per cent to 1,23,665 units throughout January-March 2022 from 1,25,662 units in the October-December 2021. Kolkata noticed a fall of marginal 1 per cent to 40,370 units from 40,686 units in the course of the interval underneath review.

Liases Foras collects knowledge on the true property tasks by way of major surveys and secondary sources.

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