Greater Noida & Noida see reduction in unsold housing stocks

According to data analytics company PropEquity, unsold housing stocks decreased 6% between January and March to over 5.18 lakh units across 14 cities compared to the prior quarter due to better sales. Between January and March of this year, unsold inventory decreased from 5,48,217 units to 5,17,879 units. Housing sales were 1,23,938 units during the first quarter of this year, while there were 93,600 new launches. In the first quarter of 2023, India's residential market grew significantly. According to Samir Jasuja, Founder & Managing Director at PropEquity, Market revival has been brought about by the recovery trend since last year, with quarterly sales topping the new launches in this quarter by 32%. In the first quarter, sales outpaced new supply, which is positive news for the home market,” he continued. According to the report, Delhi's unsold stock was steady at 793 units between January and March, compared to 790 units the previous quarter. Unsold inventory in Faridabad decreased by 17%, from 1,110 units to 920 units. Unsold stockpiles in Ghaziabad decreased by 8% to 11,542 units from 12,614 units, while they decreased by 7% in Noida to 6,843 units from 7,371 units. Unsold inventory in Greater Noida decreased by 5%, from 25,241 units to 23,865 units. Unsold stock decreased by 11% in Kolkata, from 20,566 units to 18,247 units. Unsold housing stock decreased in Mumbai by 8% to 62,735 units from 68,310 units and in Navi Mumbai by 9% to 31,735 units from 34,883 units. Unsold inventory in Thane decreased by 4%, from 1,13,700 units to 1,09,511 units. Unsold stock decreased by 11% in Pune, from 77961 to 69331 units.