New Delhi: Despite the sluggishness in the residential real estate market Mumbai, the stock of unsold property in the top seven cities of the country has come down from 37 months in third quarter (Q3) of 2018 to just 30 months in Q3 of 2019, according to ANAROCK Property Consultants.
The total number of unsold houses in the top seven cities stood at 6.56 lakh at the end of Q3 of 2019 as compared to 6.87 lkah units at the end of Q3 of 2018, a drop of five percent.
Hyderabad saw its inventory overhang drop to 16 months at the end of Q3 of 2019 as against 20 months in Q3 of 2018. The city has unsold stock of about 23,890 units at the end of Q3 of 2019 as compared to over 27,000 units in Q3 of 2018.
Bengaluru saw its inventory overhang drop to 15 months at the end of Q3 of 2019 as against 19 months in Q3 of 2018. The city has unsold stock of about 63,540 units at the end of Q3 of 2019.
Mumbai witnessed its inventory overhang declined to 34 months at the end of Q3 of 2019 as against 46 months in Q3 of 2018. The city has unsold stock of about 2.21 lakh units at the end of Q3 of 2019 as compared to 2.19 lakh units in Q3 of 2018.
Delhi NCR witnessed its inventory overhang declined to 44 months at the end of Q3 of 2019 as against 58 months in Q3 of 2018. The city has unsold stock of about 1.78 lakh units at the end of Q3 of 2019 as compared to 1.90 lakh units in Q3 of 2018.