Unsold housing stocks decline 6% to 5.18 lakh units in January-March in 14 cities: report
The Hindu
Unsold housing stocks fell 6% during January-March to nearly 5.18 lakh units across 14 cities compared to the previous quarter on better sales, according to data analytic firm PropEquity.
Unsold housing stocks fell 6% during January-March to nearly 5.18 lakh units across 14 cities compared to the previous quarter on better sales, according to data analytic firm PropEquity.
Unsold inventories stood at 5,17,879 units during January-March this year against 5,48,217 units in the preceding quarter.
During the first quarter of this calendar year, housing sales stood at 1,23,938 units while new launches were 93,600 units.
"The residential market in India saw significant growth in Q1 2023. Market resurrection has been brought about by the recovery trend since last year, with quarterly sales surpassing the new launches in this quarter by 32%," said Samir Jasuja, Founder and MD at PropEquity.
Sales have surpassed new supply in the first quarter, which is a healthy sign for the residential market, he added.
According to the data, unsold stock in Delhi remained flat at 793 units in January-March as against 790 units in the previous quarter. In Faridabad, the unsold inventories fell 17% to 920 units from 1,110 units.
Unsold stocks in Noida dipped 7% to 6,843 units from 7,371 units, while in Ghaziabad fell 8% to 11,542 units from 12,614 units. In Greater Noida, unsold inventories fell 5% to 23,865 units from 25,241 units.
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