Unsold Affordable Housing Drops 19% in Q1 2025: ANAROCK

15 Apr 2025 CW Team

India’s housing market is showing contrasting trends across budget segments. According to the latest data from ANAROCK Research, unsold affordable housing units (priced below Rs 4 million) across the top seven cities dropped by 19% year-on-year in Q1 2025, falling from approximately 140,000 units to 113,000 units. This decline is attributed to restricted new supply and sustained demand from end-users. Conversely, unsold stock in the luxury housing segment (priced above Rs 15 million) surged 24% in the same period, growing from 91,125 units to over 1.13 lakh units. The spike comes on the back of robust new launches and cautious investor sentiment amid global economic uncertainty. City-wise trends Bengaluru led the affordable housing recovery with a sharp 51% decline in unsold inventory, followed by Chennai (44%) and Pune (28%). Only Hyderabad registered a 9% increase in unsold affordable stock. On the luxury side, Chennai and Pune were the only cities to report a drop in unsold inventory—down by 4% and 11%, respectively. In contrast, NCR’s luxury inventory jumped by over 78%, Bengaluru by 57%, and Kolkata by a staggering 96%. Hyderabad and MMR also saw modest increases of 6% each. Segmental breakdown (Q1 2024 vs Q1 2025) • Affordable (< Rs 4 million): 139,000? 112,000 units (?19%) • Mid-segment (Rs 4–8 million): 175,000? 158,000 units (?10%) • Premium (Rs 8 million –Rs 15 million): ~176,000 units (?? 0%) • Luxury (> Rs 15 million): 91,125 ? 113,000 units (?24%) Total unsold stock across top 7 cities declined marginally by 4%—from 581,000 units in Q1 2024 to 560,000 units by Q1 2025-end. Both affordable and luxury segments now account for nearly 20% each of the total unsold inventory. Anuj Puri, Chairman of ANAROCK Group, noted, “Affordable housing bore the brunt of the pandemic, with its market share shrinking drastically. However, the recent drop in unsold inventory signals a recovery driven by genuine end-user demand. On the other hand, luxury housing—despite increased sales—has seen a build-up in unsold stock due to a spike in new supply.” The data underscores a shifting housing market dynamic, where affordable homes are being absorbed gradually, while luxury inventory is building up even amid higher demand.

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