Unsold Inventory At Decadal Low

Delhi-NCR remained one of the most vibrant residential markets among the top 7 cities in 2023. Despite robust sales in the region last year, developers restricted new supply to support the liquidation of previous unsold stock, leading to a significant reduction in market inventory.

Latest Anarock Research data shows  that there was a 23 percent decline  in Delhi-NCR’s unsold inventory – from about 1,23,692 units by 2022-end to nearly  94,803 units by 2023-end. This is the highest annual decline of unsold housing stock among the top 7 cities. NCR’s unsold stock is currently at a decadal low, sinking below one lakh units for the first time in the last ten years.

According to Santhosh Kumar, Vice Chairman, Anarock Group,  in Delhi-NCR. 36,735 units were  launched in 2023, while there were robust housing sales of approximately 65,625 units. Developers continue to consciously restrict new supply in the region so that they can remain focused on project completions and thus reduce their previous unsold stock. The current unsold stock in the region is way below the other realty hotspot MMR, where the available stock has risen to more than 2 lakh units.NCR’s inventory has also reached below other top cities, including Pune and Hyderabad. This is remarkable, considering that NCR historically had one of the highest unsold stock inventories among the top 7 cities.

Source: ANAROCK Research

Unsold Inventory – City-wise Breakup

Source: ANAROCK Research

NCR saw its unsold stock reduce from about. 1.24 lakh units by 2022-end to about 94,803 units by 2023-end.

• Of the total unsold inventory in NCR,  Gurugram currently  has the maximum stock of around 37,575 units, nevertheless marking a 27% annual decrease. Back in 2022-end, the city’s unsold stock stood at approx. 51,312 units.

•  Greater Noida comes next with approx. 18,825 units unsold by 2023-end, against approx. 26,096 units back in 2022-end. Greater Noida was able to reduce its stock by 28 percent  on a yearly basis.

• Ghaziabad saw its unsold stock decline to approx. 12,546 units by 2023-end from 15,475 units by 2022-end – a 19 percent yearly decline.

•  Noida had unsold stock of approx. 8,658 units by 2023-end, against approx. 10,171 units a year ago – registering  15 percent yearly decline.

•  Delhi, Faridabad and Bhiwadi together had approx. 17,199 unsold units by 2023-end. The tally was approx. 20,638 units a year ago, marking reduction by 17 percent.