Unsold Housing Units

New supply of affordable apartments -- costing below Rs 50 lakh -- declined 21 per cent in the April-June period across seven major cities as builders are launching more premium flats, according to JLL India. Real estate consultant JLL India on Friday released data for housing market of major seven cities, showing a 5 per cent increase in fresh supply of apartments to 1,59,455 units during April-June 2024 from 151,207 units in the year-ago period. The data includes only apartments. Rowhouses, villas, and plotted developments have been excluded from the analysis. Of the total new supply in the June quarter, the launches of affaordable flats stood at 13,277 units, a fall of 21 per cent from 16,728 units in the same period last year. The launches of flats, each costing Rs 50 lakh to Rs 1 crore, declined 14 per cent to 47,930 units from 55,701 units. In the Rs 1-3 crore price bracket, the new supply grew 3 per cent to 69,312 units from 67,119 units. The launches of apartments, each p

Unsold housing stocks fell 6 per cent 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 per cent," said Samir Jasuja, Founder and Managing Director 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 ..

Affordable homes make up 36% of the unsold housing stock, while luxury segment's shares is 14%

Unsold inventory overhang indicates the number of months it will take for the current unsold housing stock to get cleared in the current market scenario

Around Rs 35,000-45,000 crore would be required to fund the completion of the revised quantum of 4.58 lakh eligible dwelling units, said ICRA

Delhi-NCR has the highest volume at around 1,50,654 units which remained unsold in 2017, while Chennai has the highest percentage of completed unsold inventory at close to 20 per cent

The assessment covers projects of various tiers of developers from small promoter-driven firms to large corporate player.