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IT capital Bengaluru has lowest unsold real estate inventory

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IT capital Bengaluru has lowest unsold real estate inventory

by usiscc
November 13, 2019
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Unsold residential inventory overhang in top seven cities has reduced to 30 months as on third quarter (Q3) of the calender year 2019 against 37 months in the corresponding period of 2018.

“The IT capital Bengaluru has the lowest unsold inventory overhang at about 15 months while NCR has the highest at 44 months as on Q3 2019,” revealed ANAROCK study.

Unsold inventory overhang in months indicates the number of months it shall take for the current unsold housing stock to get cleared in the present market scenario. At any given point, an inventory overhang of 18-24 months is considered quite healthy.

Anuj Puri, Chairman – ANAROCK Property Consultants, said “If we look back and compare the yearly change in Q3 2018 with that of the corresponding period in 2017, there was only a minor reduction – from 39 months in Q3 2017 to 37 months in Q3 2018. Thus, the annual change of unsold inventory overhang in the third quarter of 2019 was fairly better than the previous year. This suggests that builders now are following a laser-focused approach towards clearing their previous unsold stock. Simultaneously, unlike earlier, builders have now also limited their new supply into the market. No wonder, new launches in Q3 2019 fell by 13% against the year-ago period in the top 7 cities whereas it had increased by 51% in Q3 2018 as against Q3 2017.”

City-wise inventory overhang change

Bengaluru with the lowest unsold inventory overhang of 15 months as on Q3 2019 – saw it reduce from 19 months a year ago and 25 months in Q3 2017.

Hyderabad’s unsold inventory will take 16 months to clear in the present scenario as against 20 months in Q3 2018 and 22 months as on Q3 2017.

In Pune, the inventory overhang has declined from 34 months in Q3 2018 to 27 months as on Q3 2019; it stood at 44 months back in the corresponding period of 2017.

Chennai’s unsold inventory overhang has reduced from 35 months in the third quarter of 2018 to 31 months in 2019. However, it was lowest best at 26 months in Q3 2017 – thus being the only city where the stock has increased on a two-yearly basis.

MMR’s inventory overhang stood at 34 months as on Q3 2019 end from 46 months a year ago and 51 months back in Q3 2017.

In Kolkata, unsold inventory will take at least 38 months to clear from hereon; a year ago in Q3 2018, it stood at 42 months while it was 43 months in Q3 2017.

NCR – one of the worst-affected residential markets in the country – currently has unsold stock which will take at least 44 months to clear. Back in Q3 2018, it was 58 months while in the corresponding period of 2017, it was 59 months.

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