+
Housing inventory overhang lowest in 5 years due to robust sales
Real Estate

Housing inventory overhang lowest in 5 years due to robust sales

The housing inventory overhang in India's top seven cities was 20 months at the end of the January-March quarter, according to data from real estate consultancy Anarock released on Monday. In the quarter ending December 2020, it was the longest at 55 months.

The inventory overhang is the time it would take to sell the area's current housing listings. A lower overhang indicates higher demand in a specific area.

According to the data, Bengaluru had the shortest inventory overhang of 13 months. "In Q1CY23, the top seven cities recorded all-time high sales of more than 114,000 units," says Anarock Group Chairman Anuj Puri. "The quarter broke all records and breached the 100,000 units mark for the first time. Strong homeownership sentiment, relatively lower home loan rates, strong momentum in luxury housing and the anticipation of further price hikes were major factors in boosting housing sales, bringing down the overall residential inventory overhang across the top cities."

The housing inventory overhang in India's top seven cities was 20 months at the end of the January-March quarter, according to data from real estate consultancy Anarock released. In the quarter ending December 2020, it was the longest at 55 months. Hyderabad's inventory overhang was reduced to 21 months in Q1CY23, from 23 months in Q1CY18.

Pune's inventory overhang was 20 months as of the end of Q1CY23. It was 40 months during the same period in 2018, and it increased to 43 months in Q1CY21.

Chennai's inventory overhang also decreased significantly, from 36 months in Q1CY18 to 20 months in Q1CY23.

The residential inventory overhang in Kolkata fell from 46 months in Q1CY18 to 20 months at the end of Q1 CY23.

Also Read
Indiabulls Housing Finance ropes in Oaktree Capital
5 States Front-runners in State Energy Efficiency Index 2021-22

The housing inventory overhang in India's top seven cities was 20 months at the end of the January-March quarter, according to data from real estate consultancy Anarock released on Monday. In the quarter ending December 2020, it was the longest at 55 months. The inventory overhang is the time it would take to sell the area's current housing listings. A lower overhang indicates higher demand in a specific area. According to the data, Bengaluru had the shortest inventory overhang of 13 months. In Q1CY23, the top seven cities recorded all-time high sales of more than 114,000 units, says Anarock Group Chairman Anuj Puri. The quarter broke all records and breached the 100,000 units mark for the first time. Strong homeownership sentiment, relatively lower home loan rates, strong momentum in luxury housing and the anticipation of further price hikes were major factors in boosting housing sales, bringing down the overall residential inventory overhang across the top cities. The housing inventory overhang in India's top seven cities was 20 months at the end of the January-March quarter, according to data from real estate consultancy Anarock released. In the quarter ending December 2020, it was the longest at 55 months. Hyderabad's inventory overhang was reduced to 21 months in Q1CY23, from 23 months in Q1CY18. Pune's inventory overhang was 20 months as of the end of Q1CY23. It was 40 months during the same period in 2018, and it increased to 43 months in Q1CY21. Chennai's inventory overhang also decreased significantly, from 36 months in Q1CY18 to 20 months in Q1CY23. The residential inventory overhang in Kolkata fell from 46 months in Q1CY18 to 20 months at the end of Q1 CY23. Also Read Indiabulls Housing Finance ropes in Oaktree Capital 5 States Front-runners in State Energy Efficiency Index 2021-22

Related Stories

Gold Stories

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Next Story
Infrastructure Transport

UP Approves Two Expressways And Rs 240 bn Infrastructure Push

The Uttar Pradesh Cabinet approved a series of infrastructure and industrial investment proposals totalling Rs 240 billion (Rs 240 bn), including two major expressway projects, a manufacturing and logistics cluster in Sultanpur and incentives for 11 industrial projects across the state. The decisions, taken at a meeting chaired by Chief Minister Yogi Adityanath, underline the state government’s focus on expanding road connectivity around emerging industrial hubs while attracting manufacturing investment to districts beyond major urban centres. The approvals cover both greenfield expressway c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code