Mumbai now has 6 year low of piled up inventory of completed homes: ANAROCK
New Delhi: Mumbai now has six-year low levels of built-up inventory of completed homes waiting for buyers. City’s unsold inventory of houses reduced to 43 months from about 55 months in 2020 at the end of June 2021. This fall in piled up inventory levels is the highest among top seven cities in the country.
In 2015, the piled up inventory was about 42 months, almost the same as now, according to ANAROCK Property Consultants.
Unlike in other top cities, Mumbai witnessed the biggest annual fall of 6 percent in its unsold stock from around 2.10 lakh homes at the end of June 2020 to about 1.97 lakh houses at the end of June this year.
This fall in inventory levels has happened due to increased sales of homes and not because of fewer new launches. Mumbai witnessed overall sales of about 58,170 units between April and June 2020 and the same period of 2021. The new launches stood at 41,500 units.
“Stamp duty cuts, extremely low home-loan interest rates, and developer discounts and offers boosted MMR’s housing market in one of the most challenging and difficult years in remembered history,” said Anuj Puri, Chairman- ANAROCK Property Consultants.