As many as 4.4 lakh housing units were unsold in seven major cities at
the end of 2017 with Delhi-NCR contributing maximum at over 1.5 lakh
flats, property consultant JLL India said.
Mumbai, Delhi–NCR, Chennai, Hyderabad, Pune, Bengaluru, Kolkata are seven cities covered in this survey.
Out of the total unsold housing stock, the consultant said, 34,700 units are ready-to-move-in flats.
Delhi–NCR has the highest volume at around 1,50,654 units which remained unsold in 2017, while Chennai has the highest percentage of completed unsold inventory at close to 20%.
Kolkata had the lowest volume of unsold inventory at about 26,000 units. JLL India CEO and country head Ramesh Nair said: “The residential market has been on a wait and watch mode for some time on account of many structural changes that have happened.”
The real estate sector has witnessed changes like real estate law RERA, demonetisation and GST that have led to a general slowdown in overall construction activities as well as housing demand.
Mumbai, Delhi–NCR, Chennai, Hyderabad, Pune, Bengaluru, Kolkata are seven cities covered in this survey.
Out of the total unsold housing stock, the consultant said, 34,700 units are ready-to-move-in flats.
Delhi–NCR has the highest volume at around 1,50,654 units which remained unsold in 2017, while Chennai has the highest percentage of completed unsold inventory at close to 20%.
Kolkata had the lowest volume of unsold inventory at about 26,000 units. JLL India CEO and country head Ramesh Nair said: “The residential market has been on a wait and watch mode for some time on account of many structural changes that have happened.”
The real estate sector has witnessed changes like real estate law RERA, demonetisation and GST that have led to a general slowdown in overall construction activities as well as housing demand.
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