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Gurugram, Mumbai lead in new housing launches in Q3: ANAROCK

Total unsold stock in MMR was nearly 2,20,870 units in Q3 2019

Representative Image
Representative Image

As voters in Maharashtra and Haryana head to the polls on October 21, here’s a look at how the property markets have fared of late in the two states.

Total sales

Of the total 17,180 units sold in the entire Mumbai Metropolitan Region (MMR) in the third quarter of 2019, Mumbai witnessed housing sales of 11,630 units, or over 68 percent share of units sold for the entire region, a new report by ANAROCK Research reveals.

Of the total 14,040 new units launched in MMR in Q3 2019, Mumbai witnessed new supply of 9,390 units, comprising 67 percent share, followed by Navi Mumbai, which saw the launch of 2,430 new units (17 percent share), and Thane, which saw 2,220 units launched during the period, it said.

Close

On a year-on-year and quarter-on-quarter basis, new stock in Mumbai fell 33 percent and 38 percent, respectively. Navi Mumbai saw new supply reduce by 21 percent YoY and 34 percent QoQ to 2,030 units in Q3 2019. Thane saw new stock decline 19 percent YoY and 48 percent QoQ to 2,220 units

Of the total 17,180 units sold in the entire MMR inQ3 2019, Mumbai witnessed housing sales of 11,630 units, or over 68 percent share of units sold for the entire region. The city saw sales decline by nine percent YoY and 22 percent QoQ.

Thane saw a meagre one percent YoY reduction to 2,660 units in Q3 2019. Quarter-on-quarter, the city saw 16 percent decline in housing sales.

Navi Mumbai saw housing sales rise by five percent YoY to 2,890 units. However, sales declined 13 percent QoQ from 3,340 units sold in Q2 2019.

Unsold inventory

Total unsold stock in MMR was nearly 2,20,870 units in Q3 2019. Of this, Mumbai comprised 66 percent share with around 1,46,380 unsold units. On a yearly and QoQ basis, the city was able to shed its unsold stock by three percent and one percent, respectively.

Total unsold stock in Thane stood at 34,950 units in the period under review, down a percent on a quarterly basis and by two percent YoY.

Navi Mumbai’s unsold inventory stood at 39,530 units, down seven percent YoY and one percent QoQ.

Supply, sales in NCR

NCR saw supply of 5,790 units in Q3 2019 as against 4,200 units a year ago and nearly 13,570 units in the preceding quarter.

The region saw housing sales of nearly 9,830 units in Q3, dropping 13 percent YoY and nearly 22 percent QoQ. Among the top seven cites, NCR ranked second in recording the maximum decline on a quarterly basis.

Interestingly, Greater Noida and Noida saw minimal new supply and clocked maximum sales in Q3 at 4,580 units. In fact, Greater Noida saw nearly 3,200 units sold more than even Gurugram, which clocked sales of 2,690 units during this period.

Gurugram saw maximum new launches in Q3 2019 comprising about 2,030 units, up 75 percent YoY but down 71 percent QoQ, the report stated. It currently has the maximum unsold stock in NCR at 55,900 units. This reduced only marginally by a percent against the preceding quarter. On a yearly basis, the city saw its unsold inventory pile up by 13 percent.

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First Published on Oct 21, 2019 11:36 am
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