MMR Sees Significant 14% Drop in Unsold Apartment Inventory Over Six Years - ANAROCK Report

Mumbai - MMR’s Unsold real estate Stock Declines

The Mumbai Metropolitan Region (MMR) has experienced a notable reduction in unsold apartment stock, falling by approximately 14% over the past six years. A report by ANAROCK Research, released on Thursday, highlights this positive trend, noting that unsold units decreased from 2.23 lakh in the first quarter of 2018 to 1.93 lakh units by March 2024.

New Launches Amid High Demand

Between Q1 2018 and Q1 2024, MMR saw the launch of over 5.41 lakh new units. Despite the challenges posed by the pandemic in 2020, developers continued to introduce new projects, driven by high demand in the region. The report pointed out that lower property acquisition costs, due to stamp duty cuts and various offers, significantly boosted demand post-COVID.

Comparative Market Insights

While MMR witnessed a decline in unsold inventory, the Pune market saw a 4% increase in unsold stock from 93,320 units in 2018 to nearly 97,000 units by 2024. However, Pune also experienced a substantial number of new launches, with over 3.01 lakh units introduced during the same period.

NCR and Kolkata's Impressive Reductions

The National Capital Region (NCR) showed a significant decline in unsold inventory, dropping from approximately 2 lakh units at the end of Q1 2018 to about 86,420 units by the end of Q1 2024. Kolkata also recorded an impressive 41% reduction in unsold stock over the same period.

Sustained Growth and Market Recovery

These findings underscore the resilience and recovery of the real estate markets in major Indian cities. With MMR leading the way in reducing unsold inventory, the outlook for residential real estate remains positive, driven by strategic new launches and favorable market conditions.