Delhi-NCR’s Unsold Inventory at Decadal Low – Under 1 Lakh Units for 1st Time

Vijay Raman

  • NCR’s inventory saw a 23% yearly decline – from approx. 1,23,692 units by 2022-end to approx. 94,803 units by 2023-end – the highest annual inventory decline among the top 7 cities
  • For 1st time in a decade, NCR’s inventory is lower than cities like Hyderabad & Pune
  • Of total unsold stock in NCR, Gurugram has maximum at approx. 37,575 units, but declining 27% y-o-y
  • Greater Noida had over 18,825 unsold units by 2023-end, reducing 28% annually
  • In Ghaziabad, unsold stock declined by 19% to approx. 12,546 units by 2023-end
  • In Noida, unsold stock at approx. 8,648 units by 2023-end, declining 15% annually
  • Delhi, Faridabad & Bhiwadi together had 17,199+ unsold units by 2023-end.

 

Delhi-NCR remained one of the most vibrant residential markets among the top 7 cities in 2023. Despite robust sales in the region last year, developers throttled back new supply to support the liquidation of previous unsold stock, leading to a significant reduction in market inventory.

 

Latest ANAROCK Research data shows the region winding up 2023 on a very upbeat note. There was a 23% yearly decline in Delhi-NCR’s unsold inventory – from approx. 1,23,692 units by 2022-end to approx. 94,803 units by 2023-end. This is the highest annual decline of unsold housing stock among the top 7 cities. NCR's unsold stock is currently at a decadal low, sinking below one lakh units for the first time in the last ten years.

 

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Santhosh Kumar, Vice Chairman – ANAROCK Group, says, “Delhi-NCR witnessed approx. 36,735 units launched in 2023, and robust housing sales of approx. 65,625 units. Developers continue to consciously restrict new supply in the region so that they can remain focused on project completions and thus reduce their previous unsold stock. The current unsold stock in the region is way below the other realty hotspot MMR, where the available stock has risen to more than 2 lakh units.”

 

“NCR’s inventory has also reached below other top cities, including Pune and Hyderabad,” he adds. “This is remarkable, considering that NCR historically had one of the highest unsold stock burdens among the top 7 cities.”

 

 

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Source: ANAROCK Research

 

 

Unsold Inventory – City-wise Breakup

 

City

NCR Unsold Inventory (Units)

2023-end

2022-end

Gurgaon

37,575

51,312

Noida

8,658

10,171

Greater Noida

18,825

26,096

Ghaziabad

12,546

15,475

Faridabad, Delhi, Bhiwadi

17,199

20,638

Total

94,803

1,23,692

Source: ANAROCK Research

 

NCR saw its unsold stock reduce from approx. 1.24 lakh units by 2022-end to approx. 94,803 units by 2023-end.

 

  • Of the total unsold inventory in NCR, Gurugram currently has the maximum stock of around 37,575 units, nevertheless marking a 27% annual decrease. Back in 2022-end, the city's unsold stock stood at approx. 51,312 units.
  • Greater Noida comes next with approx. 18,825 units unsold by 2023-end, against approx. 26,096 units back in 2022-end. Greater Noida was able to reduce its stock by 28% on a yearly basis.
  • Ghaziabad saw its unsold stock decline to approx. 12,546 units by 2023-end from 15,475 units by 2022-end – a 19% yearly decline.
  • Noida had unsold stock of approx. 8,658 units by 2023-end, against approx. 10,171 units a year ago – thus reducing by 15% yearly.
  • Delhi, Faridabad and Bhiwadi together had approx. 17,199 unsold units by 2023-end. The tally was approx. 20,638 units a year ago, thus reducing by 17%.

 

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