Unsold luxury stock increased by 10 percent YoY in the top-7 cities by 2019-end with the overall value of unsold luxury stock as on 2019 is estimated to be nearly Rs 1.59 lakh crore, according to a report by Anarock.
The overall unsold housing stock across different budget segments stood at 6.48 lakh units, worth Rs 4.64 lakh crore in top 7 cities by 2019-end, declining by mere 4 percent since 2018. While affordable homes comprised the maximum share at 36 percent, luxury homes had the least, with less than 14 percent share, the report said.
Hyderabad and Pune saw unsold luxury stock increase by 58 percent and 56 percent respectively during the period. Hyderabad's pent-up luxury stock rose from 3,000 units in 2018 to nearly 4,740 units in 2019; in Pune, it increased from 2,750 units in 2018 to 4,290 units in 2019, the report said.
In Chennai, unsold luxury stock increased by 33 percent in a year – from 2,480 units in 2018 to nearly 3,300 units by 2019-end.
Kolkata - in sharp contrast to other cities - saw a 10 percent decline in its unsold luxury stock, from 2,265 units as on 2018-end to approx. 2,050 units by 2019.
MMR's unsold luxury stock increased from 48,040 units in 2018 to 48,970 units by 2019-end, the report said.
NCR saw its unsold luxury stock increase by 17 percent in the period. The unsold luxury stock here was the second-highest after MMR with around 18,400 units by 2019-end.Bengaluru's unsold luxury stock also increased by 6% - from 7,010 units in 2018 to 7,470 units by 2019-end.