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Unsold housing inventory drops by over 21% in Delhi-NCR

Noida saw the maximum yearly decline of 31 percent followed by Ghaziabad (26 percent), Gurugram (21 percent) and Greater Noida (20 percent)

July 05, 2023 / 19:23 IST
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The Delhi-NCR real estate market saw unsold housing inventory go down by over 21 percent from approximately 141,250 units at the end of the first three months of calendar year 2022.

The Delhi-NCR real estate market saw unsold housing inventory go down by over 21 percent from approximately 141,250 units at the end of the first three months of calendar year 2022 to an estimated 110,990 units in the same period of 2023 , an analysis by real estate consultancy Anarock showed.

Budget-wise, mid-segment homes (priced between Rs 40 lakh and Rs 80 lakh) saw the highest yearly decline of 25 percent, from approximately 47,160 units between April and June 2022 to about 35,450 units in the second quarter of the current calendar year, the study showed.

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This is on account of surge in housing ownership sentiment after COVID-19, which brought the need for a controlled environment for the family centre stage, and the fact that most of the new supply is by large and by listed developers who deliver quality projects with superior specifications and amenities, and can be relied on to deliver as per agreed timelines.

Delhi-NCR’s unsold stock as by the end of the three months to June 2022 stood at approximately 110,990 units against approximately 141,250 units in the corresponding period of 2022.