Summary:

According to PropTiger.com, India's residential real estate market experienced a significant reduction in inventory overhang, decreasing to 22 months in the June quarter from 34 months the previous year. Gurugram's overhang reduced from 72 to 31 months, while Ahmedabad's declined from 33 to 18 months. Despite slowed supply and absorption rates, overall unsold inventory remained resilient, with over 926,000 unsold units, representing a 2% YoY decrease as of June 30.

Mr. Vikas Wadhawan, Group CFO of REA India and Business Head of PropTiger.com, predicted ongoing positive momentum in the residential real estate market as the festive season approaches, driving buyer engagement. Ahmedabad saw the largest decrease in unsold inventory, with over 12,500 fewer units, while the NCR region experienced a decline of more than 9,400 units. The Mumbai Metropolitan Region (MMR) and Pune accounted for 54% of the unsold inventory, with MMR stock up 1% to 339,362 units.

Source: IBEF 

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