Real Estate

Unsold flats in NCR down 9% in 2018: Report

PTI New Delhi | Updated on January 15, 2019 Published on January 15, 2019

Stalled projects still worrisome, says Anarock

Unsold housing stocks fell by 9 per cent in NCR during 2018 to nearly 1.87 lakh units on improvement in sales but the region continued to grapple with the problem of stalled residential projects, property brokerage and consulting firm Anarock said.

In the data released on Tuesday, the consultant said, housing sales in National Capital Region (NCR) rose by 18 per cent during 2018 to 44,300 units from 37,610 units in the previous year. The new units supply increased by 17 per cent to 26,010 units last year from 22,180 units in 2017, while unsold housing stocks declined by 9 per cent to 1,86,714 units from 2,05,000 units during the period under review.

“NCR housing sales increased by 18 per cent in 2018. Despite rising sales, the region continues to grapple with the issue of stalled/delayed projects,” Anarock Chairman Anuj Puri said in the report. Overall, in the seven cities tracked by the consultant, housing sales went up by 18 per cent to 2,48,310 units during 2018 from 2,11,130 units in the previous year.

NCR, MMR (Mumbai Metropolitan Region), Bengaluru and Pune together accounted for 82 per cent of the sales. Hyderabad, Chennai and Kolkata contributed the rest. Anarock said that housing sales rose by 18 per cent and new launches by 33 per cent across the top seven cities compared to 2017 despite all headwinds including the liquidity crisis. Unsold inventories reduced by 7 per cent to 6,73,208 units from 7,26,218 units. The residential inventory overhang reduced from 47 months in Q4 2017 to 33 months in Q4 2018 across these seven cities.

Published on January 15, 2019
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