Unsold stock of homes goes down 15% in Jan-March period of 2020

New Delhi: The current dismal scenario amid corona virus pandemic notwithstanding, the unsold stock of houses in the country has declined by as much as 15 percent at the end of the Jan-March quarter of 2020.

The unsold stock stood at 7,38,898 homes at the end of the quarter in the top nine cities of the country, according to a report by property portal Proptiger.com. The same was 8,69,291 homes at the end of the corresponding quarter of 2019.

At the current pace of sales, it will take 27 months to sell all the unsold units.   

The unsold stock of homes in Mumbai stood at 3,28,582 units at the end of Jan-March quarter of 2019 which came down to 2,79,229 units in the same quarter of 2020, declining by 15 percent.

The unsold stock of homes in Ahmedabad stood at 57,573 units at the end of Jan-March quarter of 2019 which came down to 41,538 units in the same quarter of 2020, declining by 28 percent.

The unsold stock of homes in Noida stood at 67,551 units at the end of Jan-March quarter of 2019 which came down to 59,041 units in the same quarter of 2020, declining by 13 percent.

The unsold stock of homes in Gurugram stood at 45,939 units at the end of Jan-March quarter of 2019 which came down to 43,276 units in the same quarter of 2020, declining by 6 percent.

The unsold stock of homes in Pune stood at 1,55, 828 units at the end of Jan-March quarter of 2019 which came down to 1,38,781 units in the same quarter of 2020, declining by 11 percent.

There has also been a slight increase in prices of residential properties in the quarter. Te prices went up by 9 percent in Hyderabad as compared to the same quarter of 2019. The prices increase by 6 percent in Ahmedabad and by 1-4 percent in Bengaluru, Kolkata, Mumbai , Pune and Noida. In Chennai, there was no change. In Gurugram the prices fell by 1 percent.

 

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