Unsold homes in Delhi-NCR drop 57% in last 6 years to 86,420 units at March-end: Anarock
The Hindu
Anarock report shows significant decline in unsold housing stock in NCR and southern cities, indicating strong demand.
The unsold housing stock in Delhi-NCR has declined 57% in the last six years to 86,420 units at the end of March quarter this year, according to Anarock.
Real estate consultant Anarock said in its latest report that NCR's unsold stock declined from 2,00,476 units at the end of the March 2018 quarter to 86,420 units as of March 31, 2024.
In the same period, the main southern cities (Bengaluru, Hyderabad and Chennai) saw their unsold stock decline from 1.96 lakh units in Q1 2018 to over 1.76 lakh units in Q1 2024.
Santhosh Kumar, Vice Chairman of Anarock, said, "What really worked for the NCR market was developers' determination to keep new supply addition under control".
Quoting Anarock's data, he said the NCR witnessed a total new supply of about 1.81 lakh units between Q1 2018 to Q1 2024.
In contrast, southern and western markets witnessed significantly higher new supply additions of about 6.07 lakh units and 8.42 lakh units, respectively.
As per the data, the unsold housing stocks in Gurugram fell to 33,326 units from 53,136 units.
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