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Delhi NCR Holds 99,690 Unsold Residential Units, Highest Among Top 8 Cities: Report

Priya Singh | 2023-12-08

Average price in Delhi NCR during Q1 2023 (in Rs per square foot) was Rs 4,500 – 4,700, reflecting a 6 per cent increase year-on-year.
The real estate market in Delhi NCR witnessed a healthy surge in supply of new residential units, 5,209 launches by various developers in the first three months of 2023, marking a remarkable 189 percent quarter-on-quarter growth, as per the latest PropTiger Report.

However, the unsold stock as of March 2023 in Delhi NCR was 99,690 units, reflecting a 66 months of inventory overhang while the all India inventory overhang was 34 months.

According to the report titled Real Insight Residential – January–March 2023, for top eight realty markets, a total of 1,47,780 residential units were launched in the January-March period of 2023, registering an all-time high quarterly level of new launches.

Housing markets covered in the report include Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Delhi-NCR (Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad), MMR (Mumbai, Navi Mumbai & Thane) and Pune.

Average price in Delhi NCR during Q1 2023 (in Rs per square foot) was Rs 4,500 – 4,700, reflecting a 6 per cent increase year-on-year.
currently holds an 11 per cent share in the total unsold inventory among the top 8 cities in India. At the end of Q1 2023, the unsold inventory stood at 99,690 units, making it the city with the highest inventory overhang of 66 months compared to other major cities.