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10 cities have 2.13 lakh unsold homes; Pune, Mumbai top list
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10 cities have 2.13 lakh unsold homes; Pune, Mumbai top list
In the wake of the realty downturn, top 10 cities in the country together had a total of 2.13 lakh unsold units at the end of June 2009, according to study by PropEquity, an online realty data provider.
The western region accounts for 40 per cent of this unsold supply while the southern region has the second largest share of unsold units at 31 per cent.
The share of the national capital region (NCR) is almost half of the western region at 23 per cent (45,732 units). Kolkata has the lowest unsold supply of 9,672 units and is at 10th position.
PropEquity, which tracks over 17,000 projects of 2,500 developers across 36 cities, conducted the study in the first two quarters of calendar year 2009. The study analysed over 10,000 apartments and villa projects of 3,000 developers.
Samir Jasuja, founder & CEO of PropEquity, said Pune had the maximum unsold supply of 36,435 units followed by Mumbai with 32,120 units and Hyderabad with 31,536 units.
In the NCR region, Gurgaon, Ghaziabad and Faridabad are ranked fifth, seventh and eighth, respectively. “We also did a city-wise average monthly absorption study (that is the average number of units sold per month). If one divides the total number of unsold stock by this average monthly absorption figures, one gets an idea on how soon this unsold stock is likely to be sold off,” Jasuja said.
In Mumbai, the average monthly absorption level is 2,948 units, while it’s 2,317 units in Pune, 1,135 in Noida, 1,074 in Gurgaon, 1,071 in Bangalore, 993 in Chennai, 794 in Hyderabad, 727 in Thane, 689 in Ghaziabad and 481 in Faridabad.
In terms of overall absorption during January-June, Mumbai witnessed the highest sale at 17,689 units. Pune, which had recorded low absorption levels till December 2008, saw absorption of 13,899 units and was ranked second. In the NCR, Noida is on the forefront and ranked fourth in all-India ranking in terms of absorption level and new launches.
Source:
http://www.mydigitalfc.com/industry/10-cities-have-213-lakh-unsold-homes-pune-mu
The western region accounts for 40 per cent of this unsold supply while the southern region has the second largest share of unsold units at 31 per cent.
The share of the national capital region (NCR) is almost half of the western region at 23 per cent (45,732 units). Kolkata has the lowest unsold supply of 9,672 units and is at 10th position.
PropEquity, which tracks over 17,000 projects of 2,500 developers across 36 cities, conducted the study in the first two quarters of calendar year 2009. The study analysed over 10,000 apartments and villa projects of 3,000 developers.
Samir Jasuja, founder & CEO of PropEquity, said Pune had the maximum unsold supply of 36,435 units followed by Mumbai with 32,120 units and Hyderabad with 31,536 units.
In the NCR region, Gurgaon, Ghaziabad and Faridabad are ranked fifth, seventh and eighth, respectively. “We also did a city-wise average monthly absorption study (that is the average number of units sold per month). If one divides the total number of unsold stock by this average monthly absorption figures, one gets an idea on how soon this unsold stock is likely to be sold off,” Jasuja said.
In Mumbai, the average monthly absorption level is 2,948 units, while it’s 2,317 units in Pune, 1,135 in Noida, 1,074 in Gurgaon, 1,071 in Bangalore, 993 in Chennai, 794 in Hyderabad, 727 in Thane, 689 in Ghaziabad and 481 in Faridabad.
In terms of overall absorption during January-June, Mumbai witnessed the highest sale at 17,689 units. Pune, which had recorded low absorption levels till December 2008, saw absorption of 13,899 units and was ranked second. In the NCR, Noida is on the forefront and ranked fourth in all-India ranking in terms of absorption level and new launches.
Source:
http://www.mydigitalfc.com/industry/10-cities-have-213-lakh-unsold-homes-pune-mu
