Mumbai has 2nd highest unsold housing inventory of 46 months

Q: Why the number of unsold flats is on the rise, in spite of banks reducing home loan rates, though slightly?

Mansoor Bithal, Mumbai

6th May 2015

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Replies (5)

We need to have price correction, which nobody is taking into account. New launches are still happening, but sales are declining, this is why, the inventories are rising year over year.

Chetan Hansraj, Bangalore

10th May 2015

Comment

However, stakeholders around the country continue to be confident about the future of real estate. Delhi and Mumbai are the big drivers of real estate in India and the recent political difficulty and a controversial development plan have considered seriously on the sentiments in these cities and zones.

Amit Raj, Delhi-NCR

9th May 2015

Comment

Right, the developers kept on launching huge units. This is why price-sensitive people are not buying. There is mis-match in what the market wants and what they are developing.

N.Mathur, Delhi-NCR

8th May 2015

Comment

It look to me that builders have been focusing on high-end customers and overlooking the large base of low-end users, in the hope that the demand would pick up. Am i right Amit?

Praveen Modi, Mumbai

7th May 2015

Comment

Yes Mansoor,
According to a residential market report released by Liases Foras, a real estate rating and research company, the number of unsold flats in 6 major cities is increasing. It reach the highest at 6.88 lakh units in the January-March quarter.

Chetan Hansraj, Bangalore

6th May 2015

Comment

Despite the pile-up of unsold units, developers have been holding on to their prices. can you tell me which city is on the top list and what about Mumbai?

Sandeep Mhatre, Mumbai

6th May 2015

You will be shocked to know that Delhi-National Capital Region on top list with unsold 321.68 million sq- ft, followed by Mumbai at 192.27 msf, Bengaluru at 152.43 msf, Pune at 70.64 msf, Chennai at 64.03 msf and Hyderabad at 52.05 msf.

Chetan Hansraj, Bangalore

6th May 2015

@Chetan,
I think this is is big issue for this country, which is facing housing shortage. It is also facing problem of rising inventories. It clearly indicates that the prices are highly useless.

Sandeep Mhatre, Mumbai

6th May 2015

Definitely Sandeep,
Inventory levels across the 6 cities increased during the qtr. by 2.48% to 6.88 lakh units, measuring a total of 919 msf area.

Ideally, the market should maintain 8-12 months of inventory. On the other hand, NCR showed the worst at 71 months, while Pune market represented the least, at 18 month whereas Mumbai stands with 46 months of inventory.

Amit Raj, Delhi-NCR

6th May 2015