Delhi-NCR’s Unsold Inventory at Decadal Low – Under 1 Lakh Units for 1st Time

0
341
ANAROCK Property Consultants Pvt. Ltd.
Santhosh Kumar - Vice Chairman - ANAROCK Property Consultants Private Limited

NCR saw its unsold stock reduce from approx. 1.24 lakh units by 2022-end to approx. 94,803 units by 2023-end.

  • NCR’s inventory saw a 23% yearly decline – from approx. 1,23,692 units by 2022-end to approx. 94,803 units by 2023-end – the highest annual inventory decline among the top 7 cities
  • For 1st time in a decade, NCR’s inventory is lower than cities like Hyderabad & Pune
  • Of total unsold stock in NCR, Gurugram has a maximum of approx. 37,575 units, but declining 27% y-o-y
  • Greater Noida had over 18,825 unsold units by 2023-end, reducing 28% annually
  • In Ghaziabad, unsold stock declined by 19% to approx. 12,546 units by 2023-end
  • In Noida, unsold stock at approx. 8,648 units by 2023-end, declining 15% annually
  • Delhi, Faridabad & Bhiwadi together had 17,199+ unsold units by 2023-end.

NEW DELHI: Delhi-NCR remained one of the most vibrant residential markets among the top 7 cities in 2023. Despite robust sales in the region last year, developers throttled back new supplies to support the liquidation of previously unsold stock, leading to a significant reduction in market inventory.

Latest ANAROCK Research data shows the region winding up 2023 on a very upbeat note. There was a 23% yearly decline in Delhi-NCR’s unsold inventory – from approx. 1,23,692 units by 2022-end to approx. 94,803 units by 2023-end. This is the highest annual decline in unsold housing stock among the top 7 cities. NCR’s unsold stock is currently at a decadal low, sinking below one lakh units for the first time in the last ten years.

Santhosh Kumar, Vice Chairman – ANAROCK Group, says, “Delhi-NCR witnessed approx. 36,735 units launched in 2023, and robust housing sales of approx. 65,625 units. Developers continue to consciously restrict new supply in the region so that they can remain focused on project completions and thus reduce their previous unsold stock. The current unsold stock in the region is way below the other realty hotspot MMR, where the available stock has risen to more than 2 lakh units.

NCR’s inventory has also reached below other top cities, including Pune and Hyderabad,” he adds. “This is remarkable, considering that NCR historically had one of the highest unsold stock burdens among the top 7 cities.

ANAROCK Group
Source: ANAROCK Research

Unsold Inventory – City-wise Breakup

CityNCR Unsold Inventory (Units)
2023-end2022-end
Gurgaon37,57551,312
Noida8,65810,171
Greater Noida18,82526,096
Ghaziabad12,54615,475
Faridabad, Delhi, Bhiwadi17,19920,638
Total94,8031,23,692
Source: ANAROCK Research

LEAVE A REPLY

Please enter your comment!
Please enter your name here