The rising preference for ready apartments to avoid uncertainty over delivery has resulted in a lower proportion of such units in the overall inventory levels. Out of a total of 6.56 lakh unsold apartments across the top 7 cities, around 12% or 81,300 are ready-to-move-in homes, showed data from ANAROCK Property Consultants.
The maximum ready stock is in the affordable segment priced below Rs 40 lakhs, followed by mid-segment homes. The luxury segments have the least ready stock.
“Homebuyers seeking ready-to-move-in properties in the ongoing festive quarter are spoiled for choice,” said Anuj Puri, Chairman, ANAROCK Property Consultants. “Among the top 7 cities, MMR has the maximum ready unsold stock equalling nearly 21,000 units, followed by NCR which has nearly 16,800 unsold ready units and Pune with 14,260 ready units.”
Nearly 35% of the total 81,300 unsold ready units are in the affordable bracket priced below Rs 40 lakhs. Mumbai Metropolitan Region (MMR) and Pune have the maximum ready affordable stock with 9,730 units and 5,990 units, respectively.
In the mid-segment with homes priced within Rs 40-80 lakhs around 26,180 units or 32% of unsold stock is ready-to-move-in. Bangalore, Pune, and NCR have the maximum ready units in the mid-segment. Nearly 20% or around 16,290 ready unsold units in the top 7 cities are priced within Rs 80 lakhs to Rs 1.5 crore. MMR, NCR, and Pune collectively have more than 10,170 ready units in this budget range.
Nearly 10,000 units across the top 7 cities are in the luxury and ultra-luxury segments priced above Rs 1.5 crore, the data showed. MMR and NCR have maximum ready unsold stock in the luxury and ultra-luxury segments. Together, they account for nearly 66% of the total 10,000 available ready units.
News Source: Economic Times, Url: https://bit.ly/2PnspRY