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.
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