India’s unsold housing inventory across seven major cities increased 4 per cent in 2025, reaching nearly 5.77 lakh units, according to real estate consultant Anarock. The rise reflects a widening gap between new home supply and demand, as developers launched more projects than the market absorbed.
At the end of 2025, unsold units stood at 5,76,617, up from 5,53,073 units a year earlier. “The growth in inventory is largely due to tapered buyer demand alongside increased new supply,” Anarock noted.
Sales fall while new launches continue
Housing sales in the top seven cities fell sharply last year, dropping 14 per cent annually to 3,95,625 units. In contrast, new supply continued to grow, rising 2 per cent to 4,19,170 units. The imbalance between sales and launches has contributed directly to the accumulation of unsold stock.
City-wise trends
The trend, however, was not uniform across all markets.
- Delhi-NCR saw unsold inventory rise 5 per cent, reaching 90,455 units at the end of 2025 from 85,901 units in 2024.
- Bengaluru recorded the sharpest increase, with unsold units up 23 per cent to 64,863 from 52,807, reflecting strong new launches that outpaced demand.
- Pune saw a moderate rise of 3 per cent, with inventory at 83,491 units, up from 80,672 units.
- Chennai’s unsold housing grew 18 per cent, reaching 33,434 units from 28,423 units.
- Kolkata’s inventory increased 9 per cent to 29,007 units from 26,542 units.
On the other hand, some cities reported a decline in unsold stock:
- Mumbai Metropolitan Region (MMR) saw a marginal 1 per cent drop to 1,79,228 units from 1,80,964 units.
- Hyderabad recorded a 2 per cent dip in unsold units to 96,140 from 97,765 units, indicating relatively stable demand in that market.
Market outlook
Despite the increase in unsold inventory, Anarock remains cautiously optimistic about the near-term housing outlook. The consultant expects demand to pick up if home loan interest rates remain low and housing prices remain under control.
“This could help clear the backlog gradually, especially in cities where price sensitivity and affordability play a significant role in buyer decisions,” the report noted.
Key takeaway
The rise in unsold units highlights the need for developers to match new launches with actual market demand. While certain cities like Bengaluru and Chennai are facing inventory pressures, stable markets like Hyderabad and Mumbai indicate that local factors, including affordability and economic growth, continue to influence absorption rates.
As the market balances supply and demand in 2026, policymakers and developers alike will be monitoring interest rate trends, pricing strategies, and buyer sentiment closely to avoid further inventory build-up.
