Over 81,300 unsold homes are currently ready-to-move-in across the top seven cities — Mumbai, NCR, Bengaluru, Pune, Hyderabad, Chennai and Kolkata, according to a research by ANAROCK, one of the leading real estate services company. Ready apartments form 12 percent of the total 6.56 lakh unsold homes, the report said.
Among the top 7 cities, Mumbai 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, Anuj Puri, chairman, ANAROCK Property Consultants, stated in the report.
In the South, Bangalore and Chennai have an almost equal number of ready unsold supply with 10,640 units and 10,160 units, respectively, he stated, adding that Kolkata has 5,620 ready unsold homes, and Hyderabad has the least ready stock with about 2,520 unsold units.
In terms of the overall share of the ready units out of the total unsold stock, Chennai tops with 32 percent ready-to-move-in properties of the 31,380 unsold units, as on September 2019. This is followed by Bengaluru with 17 percent ready units out of total 63,540 unsold units. Pune has nearly 15 percent of the total unsold stock ready-to-move while Hyderabad and Kolkata have 11 percent and 13 percent, respectively.
According to ANAROCK, the maximum ready stock is in the affordable segment, priced less than Rs 40 lakhs, followed by mid-segment homes. The luxury segments have the least ready stock.
Nearly 35 percent — approx. 28,830 units — of the total 81,300 unsold ready units are in the affordable bracket. Mumbai and Pune have the maximum ready affordable stock with 9,730 units and 5,990 units, respectively.
Nearly 32 percent — approx. 26,180 units — of the total 81,300 unsold ready units are in the mid-segment, priced within Rs 40 lakh-80 lakh. Bangalore, Pune and NCR have the maximum ready units in the mid-segment with approx. 5,300 units, 5,140 units and 5,060 units, respectively.
Nearly 20 percent unsold units in the top seven cities are priced within Rs 80 lakh-Rs 1.5 crore. Mumbai, NCR and Pune collectively have more than 10,170 ready units in this budget range.
Nearly 10,000 units across top seven cities are in the luxury and ultra-luxury segments, priced more than Rs 1.5 crore. Mumbai and NCR have maximum ready unsold stock in the luxury and ultra-luxury segments. Together, they account for nearly 66 percent of the total 10,000 available ready units.
First Published: IST