Half Of All Unsold Stock Of Residential Property In 2019 Are Affordable Homes: Proptiger

New Delhi: With all the hype around affordable homes in the country, new data suggests that as much as half of the unsold stock of completed houses in the top cities of the country is accounted for by affordable homes. The total number of completed homes that are waiting for customers was 7.75 lakh units and the number of affordable houses was 3.90 lakh units, according to a resrqach report by real estate portal Proptiger.com

"Despite the major announcements made specifically to push demand for affordable housing, consumer interest in the category has remained muted,” said Dhruv Agarwala, Group CEO, Housing.com, Makaan.com & PropTiger.com."

However, there has been a 14 percent reduction in unsold inventory of affordable homes in 2019 over 2018. In 2018 end, the stock of unsold affordable homes was 4.52 lakh units.

The report further said that 56 percent of all residential stock sold in the October-December 2019 were houses priced within the Rs 45 lakh bracket. Around 52 percent of all new launches during this period were in this segment.

The report covered Chennai, Ahmedabad, Gurugram, Bengaluru, Kolkata, Mumbai, Hyderabad, Pune and Noida.