New Delhi: The stock (number) of houses for sale of residential projects in 8 major cities of the country declined by about 2 per cent to 7.05 lakh units during the January-March quarter from the previous quarter. According to the report of real estate company RealInsight, if the pace of sales remains the same, then it will take about four years for the developers to sell these units (housing).
Housing brokerage company Prop Tiger said in its report that the most 18 percent decline in housing has been recorded in ready to move in. According to the report, the number of houses ready for sale at the end of the first quarter of 2021 in these cities stood at 7,05,344. The number was 7,18,483 in the previous quarter. A total of 66,176 houses were sold and 53,037 new houses were ready in the quarter under review.
Mani Rangarajan, chief operating officer of Prop Tiger, said, “Mumbai and Pune have the highest number of such residential units. 54% of these unsold houses were in these two cities alone. The remaining 15 percent of these houses were in Delhi-NCR and 10 percent in Bangalore.