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Bengaluru has the second-highest inventory of unsold housing units among Indian cities.
The city ranks behind the National Capital Region (NCR) but has displaced Mumbai, said Jones Lang LaSalle India.
Anuj Puri, Chairman and Country Head at JLL India, said “Bengaluru’s residential property inventory overhang now stands at 32 months. With more than 84,000 unsold housing units by the end of second quarter (Q2) 15, the city has surpassed Mumbai in this respect for the first time.”
"Given the rising land costs and expected cash flow issues, developers have been launching new projects in the last few quarters. The situation, however, does not reflect a disconnect between developers and buyers.
According to the former, enquiries are happening but buyer sentiment has been affected by macro-economic conditions, causing them to put their buying decisions on hold," said Puri.
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