The unsold housing stock in MMR in Q4 2017-18 stood at 2.65 lakh. The same was 2.71 lakh in Q3, of 2018-19 and in Q4 of 2018-19, it stood at 2.83 lakh
The unsold housing stock in the luxury segment dipped across the country from 48.300 units in the first quarter of last year to 42,650 units in the first quarter of this year. It is clear that most developers are not opting for the luxury segment anymore. In the last quarter, that is Q4 of 2018-19, a total of 23,533 units were added in the Mumbai Metropolitan Region (MMR) and in that, more than 19,261 units were priced at less than Rs 1 crore, while only 4,272 units were priced above Rs 1 crore; of which a mere 804 units were priced above Rs 2 crore.
The unsold housing stock in MMR in Q4 2017-18 stood at 2.65 lakh The same was 2.71 lakh in Q3, of 2018-19 and in Q4 of 2018-19, it stood at 2.83 lakh.
According to Anuj Puri, Chairman of Anarock Property Consultant, MMR predictably accounted for the maximum share of unsold luxury housing stock at about 23,930 units in Q1 2019.
In a report released by Pankaj Kapoor, of Liases Foras a real estate research firm, sales for homes priced above Rs 1 crore stood at 11,686 units in Q4 of 2017-18, while that in Q1 of 2018-19 stood at 10,275 units and in Q4 of 2018-19 it was at 11,204 units. While the corresponding figures for homes priced below Rs 1 crore for Q4 of 2017-18 stood above 57,306 units, for Q1 of 2018-19 it stood at close to 59,422 units while for Q4 of 2018-19 it was 57,021 units. The difference is huge.
If one has to take only MMR figures, then only in last quarter that is Q4 2018-19 in MMR, the number of units priced between Rs 25-50 lakh sold were 4,812, while between Rs 50 lakh to 1 Crore was at 4,692. The total number of units sold that were priced below Rs 1 crore stood at 12,101 units. At the same time, the number of units sold at the price range of Rs 1-2 crore stood at 2911, and the number was 1628 for homes priced above Rs 2 crore, which is not even half.
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