Unsold Homes
According to available stats, the inventory of unsold homes across major cities in the country has gone up 4.85% to 7,34,000 units in the just concluded quarter from over 7,00,000 units in the previous quarter on the back of tepid sales and over 700 new residential projects launches across the country, Liases Foras, said in its recent report, adding that it would take at least 31 months for developers to clear the pending stock at the current rate of absorption.

A healthy market, however, would maintain inventory for just eight months but there is a silver lining for some markets where sales of homes in the quarter were up 22% in Pune, 17% in Mumbai and 8% in Chennai. Other markets such as the National Capital Region (NCR), Bangalore and Hyderabad recorded a decline in quarter-on-quarter basis in housing sales with Hyderabad dwindling most at 24% whereas the NCR was down 1%, Bangalore recorded a decline of 7%. In the prevailing scenario buyers seem to be still waiting for the economy and affordability to improve and a strong government could do the trick, claimed managing director, Liases Foras, Pankaj Kapoor.