Homebuyers seeking ready-to-move-in properties in the ongoing festive quarter are spoilt for choice, as nearly 81,300 unsold homes are available across the top seven cities in the category, according to property consultant Anarock. As on Q3 2019 end, approximately 6.56 lakh units were lying unsold across these cities and out of this nearly 12% are ready to be occupied.
“Among the top seven cities, MMR has the maximum ready unsold stock equaling nearly 21,000 units, followed by NCR which has nearly 16,800 unsold ready units and Pune with 14,260 ready units. In the south, Bengaluru and Chennai have an almost equal number of ready unsold supply with 10,640 units and 10,160 units, respectively. Kolkata has 5,620 ready unsold homes, and Hyderabad has the least ready stock with about 2,520 unsold units. Hyderabad also has the least overall unsold stock (of 23,890 units) among the top seven cities,” Anuj Puri, chairman, Anarock Property Consultants said.
Puri added that the data of current ready unsold inventory across the top seven cities reveals that the maximum ready stock is in the affordable segment priced less than Rs 40 lakhs, followed by mid-segment homes. The luxury segment has the least ready stock. Nearly 35% (approximately 28,830 units) of the total 81,300 unsold ready units are in the affordable bracket (priced less than 40 lakhs). MMR and Pune have the maximum ready affordable stock with 9,730 units and 5,990 units, respectively.
He added, “In the mid-segment (homes priced from Rs 40 to 80 lakhs) approximately 26,180 units – or 32% – of unsold stock is ready-to-move-in. Bengaluru, Pune and NCR have the maximum ready units in the mid-segment with approximately 5,300 units, 5,140 units and 5,060 units respectively. Nearly 20% of around 16,290 ready unsold units in the top seven cities are priced from Rs 80 lakhs to Rs 1.5 crore. MMR, NCR and Pune collectively have more than 10,170 ready units in this budget range.”
Nearly 10,000 units across the top seven cities are in luxury and ultra-luxury segments priced greater than 1.5 crores. “Not surprisingly, MMR and NCR have maximum ready unsold stock in the luxury and ultra-luxury segments. Together, they account for nearly 66% of the total 10,000 available ready units.”
Top Micro-markets with Ready Supply
- MMR: Badlapur, Palghar and Virar have nearly 3,060 ready unsold units
- NCR: Central Noida, Greater Noida West and Yamuna Expressway have
more than 7,270 ready-to-move-in units
- Bengaluru: the prominent IT hubs of Whitefield, Electronic City and Sarjapur
Road collectively have more than 2,810 unsold ready units
- Pune: Balewadi, Talegaon Dabhade and Wagholi have ready unsold inventory
of nearly 2,830 units
- Hyderabad: Gachibowli, Kondapur and Narsingi have approximately
1,040 ready-to-move-in units
- Chennai: Iyyappanthangal, OMR and Perambur have around 4,450
unsold ready units