This festive season, homebuyers are spoilt for choice when it comes to ready-to-move-in properties as of the total 6.56 lakh unsold apartments across top 7 cities, around 12 percent or 81,300 are ready for possession. The maximum stock is in the affordable segment priced below Rs 40 lakh, according to a new research report.
The Anarock Research report said that nearly 81,300 unsold homes are currently ready-to-move-in across the top seven cities. As on the third quarter of 2019 end, approximately 6.56 lakh units were lying unsold across the top 7 cities and out of this nearly 12 percent are ready to be occupied.
MMR has the maximum ready unsold stock equaling nearly 21,000 units, followed by NCR which has nearly 16,800 unsold ready units and Pune with 14,260 ready units.
In the South, Bengaluru and Chennai have an almost equal number of ready unsold supply with 10,640 units and 10,160 units respectively. Kolkata has 5,620 ready unsold homes, and Hyderabad has the least ready stock with about 2,520 unsold units. Hyderabad also has the least overall unsold stock (of 23,890 units) among the top-7 cities, said the report.
As for the overall share of the ready units out of the total unsold stock in each of these cities, Chennai tops out - of the total 31,380 unsold units in the city (as on September 2019) 32 percent is ready-to-move-in (approximately 10,160 units).
Bengaluru follows with nearly 10,640 units ready for possession out of a total 63,540 units - a 17 percent share. In Pune, nearly 15 percent of the total unsold stock - nearly 14,260 units of 92,560 unsold units - are ready-to-move. In Hyderabad and Kolkata, the share of ready stock among total unsold stock is 11 percent and 13 percent respectively.
The prominent micro-markets with ready unsold stock in the top 7 cities are include MMR - Badlapur, Palghar and Virar have nearly 3,060 ready unsold units; NCR - Central Noida, Greater Noida West and Yamuna Expressway have more than 7,270 units that are ready-to-move-in, the report said.
In Bengaluru, the prominent IT hubs of Whitefield, Electronic City and Sarjapur Road collectively have more than 2,810 unsold ready units; Pune areas of Balewadi, Talegaon Dabhade and Wagholi have ready unsold inventory of nearly 2,830 units.
Chennai has areas such as Iyyappanthangal, OMR and Perambur with around 4,450 unsold ready units and Kolkata has Maheshtala, Rajarhat and Rajpur Sonarpur with over 2,290 ready unsold units, the report said.