Latest News | Unsold Housing Stocks in Delhi-NCR Drops 21 Pc to Nearly 1.11 Lakh Units at June-end: Anarock

New Delhi, Jul 5 (PTI) Unsold housing stocks in Delhi-NCR fell 21 per cent annually during the April-June period of this calendar year to nearly 1.11 lakh units on better demand and calibrated new supply, according to Anarock.

Delhi-NCR's unsold housing stock at the end of the June quarter stood at 1,10,990 units as against 1,41,250 units in the corresponding period of 2022, real estate consultant Anarock said.

Also Read | Shooting During US Independence Day 2023 Celebrations: 9 People Shot and Wounded in Washington DC While Enjoying Fourth of July Holiday.

"The increasing sway of branded developers has been steadily boosting homebuyer confidence in Delhi-NCR. Before the pandemic, this market was being burdened by excessive supply from unbranded players.

"Today, despite very healthy sales, branded developers are carefully calibrating the supply pipeline," Santhosh Kumar, Vice Chairman at Anarock, said.

Also Read | Monsoon 2023 in India: IMD Forecasts Heavy Rainfall for South Gujarat, Saurashtra From July 6.

Compared with the pre-Covid Q2 2019-end period, there has been a 39 per cent reduction in overall unsold housing stock in the whole of NCR, he added.

Noida saw a maximum decline of 31 per cent, followed by Ghaziabad (26 per cent), Gurugram (21 per cent) and Greater Noida (20 per cent).

As per the data, the unsold housing stocks in Gurugram declined to 46,650 units at the end of the April-June quarter from 59,120 units in the year-ago period.

Unsold residential properties in Noida fell to 8,440 units from 12,150 units, while in Greater Noida, the number dropped to 23,170 units from 28,870 units.

Anarock data showed a 26 per cent decline in unsold inventory in Ghaziabad to 13,385 units from 18,000 units.

The cumulative unsold stocks in Faridabad, Delhi and Bhiwadi dipped 16 per cent to 19,345 units from 23,110 units.

Housing sales in Delhi-NCR rose 7 per cent to 16,450 units in the April-June period from 15,340 units in the year-ago period. The Delhi-NCR market saw an increase of 52 per cent in new launches to 8,460 units from 4,070 units a year ago.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)