MMR Sees 24% Yearly Decline in Unsold Stock of Homes Priced > Rs2.5 Cr
Luxury housing sales continued to top the charts post the pandemic - particularly in MMR, where prices in this segment had dropped during the first wave. Latest ANAROCK data shows a 24% yearly decline in MMR's unsold stock of homes priced >INR 2.5 Cr. At Q1 2022-end, MMR's unsold stock in this category stood at approx. 20,480 units; this dropped to approx. 15,520 units by Q1 2023-end. At pre-Covid Q1 2019-end, MMR's luxury stock was approx. 23,130 units. Overall unsold housing stock across all budget categories in MMR saw a yearly rise of 13% - from approx. 1,77,560 units by Q1 2022-end to approx. 2,00,540 units by Q1 2023-end. The luxury segment was the only one to see the 24% decline in the period. Unsold stock of mid-segment homes (priced INR 40 - 80 lakh) in MMR saw the highest rise of 33% in the year – from approx. 40,245 units by Q1 2022-end to approx. 53,550 units by Q1 2023-end. MMR's inventory of homes priced INR 80 Lakh to INR 1.5 Cr rose by 23% in the period – from approx. 43,140 units by Q1 2022-end to approx. 53,080 units by Q1 2023-end - while inventory of homes priced between INR 1.5 Cr to INR 2.5 Cr saw a 7% jump. The stock of affordable homes (priced within INR 40 lakh) jumped up by 6% in MMR - from approx. 50,860 units in Q1 2022 to approx. 53,970 units in Q1 2023. Furthermore, despite increased new supply in the top 7 cities in Q1 2023, overall unsold stock across all budget categories remained static in the period. It was approx. 6.28 lakh units by Q1 2022-end and stood at approx. 6.27 lakh units as on Q1 2023-end.
Tags : Luxury housing sales pandemic MMR prices segments ANAROCK data budget categories sales inventory homes supply