NEW DELHI: The demand for real estate remains sluggish, with nearly 2 lakh housing units remaining unsold in the National Capital Region (NCR) alone in the second quarter of 2018, a report by ANAROCK Property Consultants has said.
Gurugram tops the list with the highest number of unsold inventory, the report said. According to the report, there were 1.82 lakh unsold housing units in the entire NCR in the second quarter of this calendar year and Gurugram accounted for 56,550 units worth Rs 80,570 crore, which is 31 per cent share of the whole region.
The average property prices in Gurugram in the second quarter of 2019 stood at Rs 6,065 per square feet, going down by 1 per cent in the last two years, the data showed.
Gurugram was followed by Greater Noida with 50,800 unsold units estimated at Rs 26,720 crore.
However it was better than last two years. In Greater Noida, unsold inventory decreased by 26 per cent between Q2 of 2017 and Q2 of 2019 — from 69,080 to 50,810 units. Ghaziabad also saw its unsold stock decrease to 30,250 units in Q2 2019 – declining by 22 per cent in two years, the report said.
Faridabad, having least unsold inventory in NCR (of 5,180 units) saw the stock fall by 27 per cent since Q2 2017, while Bhiwadi, in neighbouring Haryana with current unsold inventory of 5,930 units, saw a whopping 47 per cent decline during the last two years.
Contrary to this, Delhi saw its unsold stock pile up to 12,340 units in Q2 2019, increasing by 4 per cent since Q2 2017,” the report by ANAROCK added.
“These are clear indicators that affordable markets are finding favour with buyers, which is in line with the fact that affordable housing is leading the pack across markets — most notably in NCR,” said Prashant Thakur, director and head (research), ANAROCK Property Consultants.