Canindia News

78,000 ‘ready to move in’ homes unsold across top cities: Report

New Delhi, April 24 (IANS) Around 78,000 ready-to-move-in housing units, valued at Rs 65,950 crore, remain unsold in the country, according to a report by Anarock Property Consultants.

It accounts for nearly 12 per cent of the 6.44 lakh unsold units in cities. The report suggests that homebuyers seeking de-risked ready-to-move-in properties can leverage the COVID-19 period to their advantage.

The report said that although construction activity is completely halted across India, first-time homebuyers are at an unprecedented advantage to negotiate good deals on ready-to-move-in options and simultaneously benefit from all-time low interest rates of 7.15-7.8 per cent.

Anuj Puri, Chairman, Anarock Property Consultants, said: “Of the total unsold ready stock, MMR and Pune together have approximately 35,200 units, which are collectively worth Rs 37,550 crore. This accounts for 57 per cent of the total value of ready unsold homes across all top seven cities.”

The National Capital Region (NCR) has around 15,600 unsold ready units, followed by Bengaluru with nearly 10,100 apartments. Hyderabad has least unsold ready stock of around 2,400 homes worth Rs 1,870 crore.

Puri was of the view that the lockdown period has kick-started rapid technology-led evolution on the Indian real estate market.

“Some states are now also mulling the introduction of e-registration of property documents, thereby completing the entire value chain. This is necessary since physical site visits are unlikely to pick up quickly even after the lockdown ends, as both buyers and sellers will remain wary,” he said.




IIFL dealer, 5 others barred from securities market for front running

CanIndia New Wire Service

India can become AI laboratory of the world: NITI Aayog CEO

CanIndia New Wire Service

India needs to move beyond exporting raw materials: Goyal

CanIndia New Wire Service

Growth in data tariffs, broadband reach show move towards higher ARPU

CanIndia New Wire Service

Three pvt banks in TN, Kerala hit headlines for wrong reasons

CanIndia New Wire Service

Stimulus, healthy macros expected to lift markets (IANS Equity Outlook)

CanIndia New Wire Service

‘CIRP threshold against personal guarantors should be raised’

CanIndia New Wire Service

Unscathed: Pent-up demand more sustained, predictable now, says Kia India (IANS Special)

CanIndia New Wire Service

Accounts not performing due to delay won’t be labelled NPAs: Centre

CanIndia New Wire Service

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More


Stay up to date with the latest news and exclusive offers directly in your inbox