Gurugram Tops List of Unsold Housing Stock in NCR
The hike in construction material prices and home loan interest rates seem to have hit the housing sales in NCR, particularly in Gurugram . This inference can be drawn from the latest report by real estate consultants Anarock. Of the total unsold inventory of 1.41 lakh units in NCR, Gurugram currently has the maximum of 59,120 units (42%) followed by Greater Noida with 28,875 units (20%) and Ghaziabad with 17,990 units (12%). And Noida has the minimum unsold stock of 12,150 units, which is just 8.5% of the total unsold inventory across NCR cities, as per the report. However, compared to the second quarter last year, the unsold stock saw a 16% decline — from 1.68 lakh units in the second quarter of 2021 to 1.41 lakh units in Q2 2022, according to the Anarock report. “The total unsold inventory in Gurugram decreased by 7% on a quarterly basis, 8% in Greater Noida, 5% in Ghaziabad. Noida witnessed a whopping 12% quarterly decline in unsold stock.” Prashant Thakur, senior director and head of research at Anarock, said, “Inventory measured in months indicates the number of months it will take for the current unsold housing stock on the market to sell at the current absorption rate. Delhi-NCR developers remained cautious and restricted new supplies despite robust sales, only 4,070 units were launched in Q2 2022.” City-based developers say robust sales and restricted new supplies helped NCR in reducing its housing inventory overhang by 53 months — from 80 months in Q2 2021 to 27 months in Q2 2022.
Tags : Gurugram Unsold Housing Stock NCR Prashant Thakur senior director and head of research at Anarock