By: Anuj Puri, Chairman – ANAROCK Property Consultants
Mumbai: Homebuyers seeking ready-to-move-in properties in the ongoing festive quarter are spoiled for choice. ANAROCK research indicates that nearly 81,300 unsold homes are currently ready-to-move-in across the top 7 cities. As on Q3 2019 end, approx. 6.56 lakh units were lying unsold across the top 7 cities and out of this nearly 12% are ready to be occupied.
Anuj Puri, Chairman – ANAROCK Property Consultants says, “Among the top 7 cities, MMR has the maximum ready unsold stock equalling 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, Bangalore 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.”
Interestingly, on studying 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% is ready-to-move-in (approx. 10,160 units). Bangalore follows with nearly 10,640 units ready for possession out of a total 63,540 units – a 17% share. In Pune, nearly 15% 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% and 13% respectively.
Ready Homes: Budget Analysis
The data of current ready unsold inventory across top 7 cities reveals that the maximum ready stock is in the affordable segment priced <INR 40 lakhs, followed by mid-segment homes. The luxury segments have the least ready stock.
Top Micro-markets with Ready Supply
The prominent micro-markets with generous ready unsold stock in the top 7 cities are:
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