Delhi-NCR’s Unsold Inventory At Decadal Low
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 supply to support the liquidation of previous 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 of 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.”
Tags : residential markets Santhosh Kumar ANAROCK Group liquidation highest annual decline