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Sharp rise in property prices across prime residential markets in 2024: PropTiger Report

According to the report, the NCR housing market saw the steepest surge in property values, with rates jumping 49% YoY.

January 29th 2025: Average property values in India’s national capital region showed a whopping 49% appreciation in the past one year as demand for luxury homes continued to sustain. This comes amid an escalation in the cost of building materials and labour, a new report by digital real estate transaction and advisory platform PropTiger.com shows.

According to the report, titled Real Insight: Residential Annual Round-up 2024 by PropTiger.com, property prices increased across cities during the October-December period of 2024, albeit in varying degrees. While price growth slowed in the southern housing market of Hyderabad after nearly a decade of sharp rise, all other cities covered in the analysis showed double-digit annual appreciation.

Price Trends

City	Q4 23	Q4 24	YoY
Ahmedabad	4,000	4,402	10%
Bengaluru	6,744	7,536	12%
Chennai	6,200	7,173	16%
Delhi NCR	5,445	8,105	49%
Hyderabad	6,842	7,053	3%
Kolkata	5,100	5,633	10%
MMR	10,712	12,600	18%
Pune	6,140	7,108	16%

Source: Real Insight Residential – Annual Round-up 2024, Housing Research

Cities covered in the analysis are Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR (Gurugram, Noida, Greater Noida, Ghaziabad & Faridabad), Mumbai Metropolitan Region (Mumbai, Navi Mumbai & Thane) and Pune.

“High-net-worth Individuals deploying money in Delhi-NCR — this region is home to over 10 recently-listed start-ups — has kept the growth momentum going for this coveted residential market as developers prioritise premium offerings to affordable homes. This is the single biggest reason why home sales in key contributors like Gurugram (144% increase YoY), Greater Noida (54% increase YoY) and Noida (3% increase YoY) showed annual rise in sales even though pan-India numbers showed 26% year-on-year dip,” the company said in a statement.

Property prices in India’s financial capital Mumbai rose by an average 18% YoY because of similar factors, the report said. Home to India’s biggest business stalwarts, Bollywood stars and sports celebrities, Mumbai is the most unaffordable housing market in the world’s most populous country, it added.

“No doubt, this kind of price growth is indicative of underlying demand, growth prospects and a positive buyer sentiment. However, cost pressure might further affordability concerns in a country where a large part of the population relies on government subsidies for house purchases. Amid hardening inflation and slowing growth, the government must launch policy measures that take care of this crucial aspect to promote affordable housing. Positive tweaks in taxation laws in the upcoming Budget and rate cuts by the RBI could go a long way in ensuring greater affordability for India’s burgeoning Middle Class,” said Dhruv Agarwala, Group CEO, Housing.com & Proptiger.com.

NOTE: Housing markets covered in the report includes Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Delhi-NCR (Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad), MMR (Mumbai, Navi Mumbai & Thane) and Pune.

Housing.com redefines real estate visualisation with next-gen 3D, AR and VR innovations

The company is first to innovate and still building on its legacy of transforming real estate visualisation since its inception.

January 22nd, 2025: India’s No. 1 real estate app, Housing.com, introduced 3D, augmented reality (AR) and virtual reality (VR) tools a decade ago, revolutionising the home-buying experience. Building on this foundation, the platform has now launched a next-generation suite of these technologies, providing home seekers with an even more immersive and automated property exploration experience. This development reinforces Housing.com’s leadership in the proptech space and its commitment to innovation in real estate.

Adding to the immersive experience are two major AR and VR innovations: DigiAR and Digitour. DigiAR, an augmented reality solution, enables buyers to view full 3D prototypes of property designs as envisioned by developers. Accessible through WebAR, DigiAR allows users to visualise digital property replicas over real land plots, bringing a highly interactive and lifelike dimension to the search experience. Complementing this, Digitour in VR provides a fully immersive virtual “walk-through” of properties using pose tracking and near-eye 3D displays, allowing buyers to evaluate properties in detail without needing to be physically present. This VR solution is particularly advantageous for remote buyers who want to explore a property in depth before making any decisions.

Expanding on the innovative capabilities of Housing.com’s nextgen 3D product suite, the new tools set a benchmark in immersive real estate experiences. The suite features DigiPlot, offering a comprehensive 3D view of land plots, distinguishing sold and available spaces while showcasing proximity to key landmarks. Digislate empowers agents with real-time project insights, fostering trust by presenting up-to-date visuals and details during client meetings.

Digiport and Droneview take visualisation to the next level with interactive masterplan tours and aerial perspectives, providing a complete sense of layout and connectivity. Rounding out the suite, Floorplan 3D, powered by AI and ChatGPT, transforms 2D blueprints into detailed, interactive 3D models, letting buyers experience their future homes in detail. This suite ensures users make confident, well-informed property decisions with ease.

These next-generation technologies aim to deliver a superlative consumer experience with an interactive and engaging journey that not only enhances understanding of individual properties but also brings the surrounding localities to life. This suite of innovations is designed to enable informed decision-making, reduce time and costs, and ultimately provide a richer, more accessible experience.

Through advanced algorithms, these tools cut down manual intervention, significantly lowering costs by over 70% and speeding up the turnaround time for floor plan creation. Buyers can now intuitively grasp spatial layouts and design elements, enhancing their comprehension of the property—all from their digital devices.

“These visualization initiatives are about creating meaningful experiences and adding value for our users,” shared Sangeet Aggarwal, Head of Product at housing.com, “By providing immersive, interactive tools, we’re allowing consumers to experience properties in a way that feels almost tangible, bridging the gap between virtual exploration and real-life decision-making. At Housing.com, we are committed to harnessing machine learning (ML) and artificial intelligence (AI) to enhance both our operations and the user experience. By constantly exploring innovative implementations of these technologies, we are not only improving efficiency but also gaining a competitive advantage in the market.”

Through these latest advancements, housing.com reiterates its dedication to pioneering proptech solutions that simplify the home-buying journey and offer memorable, immersive experiences.

Homes sales drop 26% in Q4 2024, launches dip 33%: PropTiger.com report

The report mentioned that the drop in numbers would primarily be attributed to state elections in Maharashtra and Haryana and to elevated property prices.

January 16th 2025: Housing sales in India’s eight prime residential markets dipped 26% in the October-December period of 2024 when compared to the same quarter last year, according to the latest report by digital real estate transaction & advisory platform PropTiger.com.

The report, titled ‘Real Insight Residential: Annual Roundup 2024 by PropTiger.com, said the drop in sales numbers could primarily be attributed to state elections in Maharashtra and Haryana, which make up for three of the eight cities covered in the analysis and to elevated property prices. Barring NCR, data show, home sales dipped across cities on a year-on-year basis.

The impact of elections was also visible on fresh supply — launches in Q42024 declined 33% YoY as the pace of project approvals slowed due to state polls. Launch numbers during the last quarter of 2024 dropped in five of the eight cities covered in the report.

Dhruv Agarwala, Group CEO, Housing.com & Proptiger.com said, “While the October-December festive period, saw a QoQ increase in sales as expected, there was a YoY decline in both sales and new launches across most regions. Factors such as global economic uncertainties, major state elections, and property price increase across the country led to a wait-and-watch approach by both developers and buyers.”

“While Delhi NCR stood out as the only market to register YoY growth in sales, other regions, including key markets like MMR, Pune, and Bengaluru, experienced notable declines in home sales. Looking ahead, with no immediate signs of interest rate cuts and with economic growth slowing down, the market is expected to remain cautious in the coming quarters”, he added.

New home sales

The Delhi-NCR market stood out as the only region among the top eight cities to register positive growth in new home sales, with 9,808 units sold in Q4 (Oct-Dec 2024), a significant rise from 6,528 units in the same period last year. MMR retained its position as the market leader with 33,617 units sold, though it witnessed a 31% YoY decline from 48,553 units. Pune followed with 18,240 units sold, also down 31% YoY. In the South, Bangalore recorded 13,236 units sold (down 23% YoY), Hyderabad 13,179 units (down 36% YoY), and Chennai 4,073 units (down 5% YoY).

Sales – Quarterly
City	Q4 24	Q3 24	Q4 23	QoQ (%)	YoY (%)
Ahmedabad	10,170	9,352	15,310	9%	-34%
Bangalore	13,236	11,160	17,200	19%	-23%
Chennai	4,073	3,560	4,284	14%	-5%
Delhi NCR	9,808	10,098	6,528	-3%	50%
Hyderabad	13,179	11,564	20,491	14%	-36%
Kolkata	3,715	2,796	4,735	33%	-22%
Mumbai	33,617	30,010	48,553	12%	-31%
Pune	18,240	18,004	26,381	1%	-31%
Total	106,038	96,544	143,482	10%	-26%

Source: Real Insight Residential – Annual Round-up 2024, Housing Research

*Note: Numbers rounded off to the nearest thousand.

New home launches

In Q4 CY2024 (Oct-Dec), new home launches across India’s top eight housing markets dropped by 33% YoY. Hyderabad witnessed the sharpest decline, with 9,066 units launched (down 66%), followed by Ahmedabad with 3,515 units (down 61%) and Kolkata with 3,091 units (down 41%). On a positive note, Delhi NCR saw a 133% YoY surge with 10,048 units launched, Chennai recorded a 34% rise with 4,005 units, and Bengaluru led with 15,157 units, marking a 20% YoY increase.

New Launches – Quarterly
City	Q4 24	Q3 24	Q4 23	QoQ (%)	YoY (%)
Ahmedabad	3,515	6,559	9,046	-46%	-61%
Bangalore	15,157	13,972	12,616	8%	20%
Chennai	4,005	4,649	2,997	-14%	34%
Delhi NCR	10,048	11,955	4,313	-16%	133%
Hyderabad	9,066	8,546	26,443	6%	-66%
Kolkata	3,091	1,516	5,267	104%	-41%
Mumbai	30,127	31,123	49,429	-3%	-39%
Pune	13,652	13,543	22,312	1%	-39%
Total	88,661	91,863	132,423	-3%	-33%

Source: Real Insight Residential – Annual Round-up 2024, Housing Research

*Note: Numbers rounded off to the nearest thousand.

Housing.com elevates property search experience with ‘Housing Stories’ & ‘Housing Shorts’

The snackable short video features bring personalised, social media-style experiences to home seekers.

October 21, 2024: Housing.com, India’s No. 1 real estate app, has unveiled ‘Housing Stories’ and ‘Housing Shorts,’ groundbreaking, features designed to transform property viewing. With a social media-inspired short video format, this innovative launch allows developers and broker partners to connect seamlessly with home seekers, making property discovery more engaging and interactive.

‘Housing Stories’ are created using unfiltered videos or images shared by customers, providing an authentic glimpse of properties. In addition, ‘Housing Shorts’ introduces an interactive AI anchor that guides users through property highlights, offering key details provided by developers or agents. This user-friendly approach enhances the viewer’s experience by streamlining the property discovery process, making it both efficient and enjoyable for potential home seekers looking to buy or rent.

Early Success and Engagement Growth

During the pre-launch phase, ‘Housing Stories’ achieved impressive adoption, with around 1,000 customers leveraging the feature and over 100,000 home seekers actively viewing these stories. This initial success significantly enhanced property visibility on the Search Results Page, enabling precise targeting of potential buyers in specific locations.

As a result, engagement increased by over 30%, underscoring the platform’s effectiveness in fostering deeper connections between users and property listings, and demonstrating the feature’s strong potential to drive further user interaction.

Housing.com continues to push the boundaries of innovation with the launch of ‘Housing Stories’ and ‘Housing Shorts,’ tapping into the growing popularity of short-form video content for consumer engagement. By offering premium packages tailored for real estate developers and agents for both sell or rent, the platform provides powerful promotional tools designed to boost engagement both on web and app.

These features align with Housing.com’s vision to deliver a superlative user experience, setting new industry standards for personalised and interactive property searches, and redefining how home seekers connect with listings through dynamic and engaging solutions.

Sangeet Aggarwal, Head of Product & Design at Housing.com, said, “We believe the proptech sector is on the brink of a major transformation, driven by technological advancements and evolving consumer behaviours. Innovations like ‘Housing Stories’ & ‘Housing Shorts’ by Housing.com not only simplify the property search process but also allow users to explore homes in a manner similar to browsing social media content. This also provides us with valuable insights into consumer preferences, enabling us to tailor our offerings for a more personalised and engaging experience.”

Aggarwal further highlighted “The new feature has already driven a 30% increase in engagement. As India’s No.1 real estate app, we are dedicated to continuously redefining experience, setting new industry standards.”

The company said in its statement, ‘This launch reaffirms our commitment to leveraging technology to streamline and enhance the home-buying journey. By integrating more interactive and visually engaging content, the company aims to make property searches not only more efficient but also more enjoyable for our users.’

Below are examples of Housing Stories & Housing shorts

Housing.com elevates property search experience with ‘Housing Stories’ & ‘Housing Shorts’

The snackable short video features bring personalised, social media-style experiences to home seekers.

October 21, 2024: Housing.com, India’s No. 1 real estate app, has unveiled ‘Housing Stories’ and ‘Housing Shorts,’ groundbreaking, features designed to transform property viewing. With a social media-inspired short video format, this innovative launch allows developers and broker partners to connect seamlessly with home seekers, making property discovery more engaging and interactive.

‘Housing Stories’ are created using unfiltered videos or images shared by customers, providing an authentic glimpse of properties. In addition, ‘Housing Shorts’ introduces an interactive AI anchor that guides users through property highlights, offering key details provided by developers or agents. This user-friendly approach enhances the viewer’s experience by streamlining the property discovery process, making it both efficient and enjoyable for potential home seekers looking to buy or rent.

Early Success and Engagement Growth

Below are examples of Housing Stories & Housing shorts

Top 8 cities see 5% drop in sales, 25% fall in new launches: Proptiger report

The number of new residential units launched in the top 8 markets decreased from 1,23,080 units in Q3 2023 to 91,863 units in Q3 2024, the report said.

October 9th, 2024: India’s leading eight residential markets experienced a year-on-year decline in both housing sales and new launches during the July-September quarter of 2024, as revealed in the latest ‘Real Insight Residential Report’ by PropTiger.com, part of REA India, which also owns Housing.com. A sharp increase in home prices—averaging a nearly 20% increase across the top eight cities—impacted affordability leading to a 5% YoY drop in overall sales. New launches witnessed a more significant 25% YoY decrease compared to the same quarter in 2023.

Key findings:

Sales: A total of 96,544 units were sold in Q3 2024, down from 1,01,221 units sold during the same period in 2023, reflecting a 5% annual decline
New Launches: The number of new residential units launched in the top 8 markets decreased from 1,23,080 units in Q3 2023 to 91,863 units in Q3 2024, marking a significant 25% drop.

Vikas Wadhawan, CFO of REA India and business head of PropTiger.com, commented, “The year-on-year decline in both sales and new launches reflects the market’s response to rising prices. While the demand and supply for homes moderated during the April-June period due to the General Elections and a temporary slowdown in the approval process during July-August, consumer sentiment remains positive. This is driven by strong market fundamentals, which continue to encourage real estate as a preferred investment avenue.”

He further added, “We are observing a healthy moderation in market activity, which is beneficial for end-users as it brings about sustainable growth. Over the last few quarters, prices have increased by 3% to as much as 50% in some prime localities of key markets, affecting immediate buying decisions. However, we expect buyers to gradually adjust to the new price realities. With the festive season kicking off with Navratri, renewed buyer interest and a spike in sales activity are anticipated. The market frenzy has slowed, creating a more stable environment for end-users. Developers, particularly in Hyderabad and Pune, have also recalibrated their supply strategies to align with shifting demand patterns, while Delhi NCR continues to display robust momentum in both sales and launches. The festive season is expected to bring fresh energy as developers introduce attractive offers, revitalising the market despite recent challenges.”

Major drops in Mumbai, Hyderabad and Pune

In the July-September quarter of 2024, Delhi NCR saw a significant sales surge of 29% year-on-year (YoY), with 10,098 units sold compared to 7,800 in the same period last year. Mumbai, while leading in overall volume, experienced a slight 1% dip, selling 30,010 units versus 30,299 in Q3 2023. Hyderabad faced a notable decline, with sales dropping 19% YoY to 11,564 units from 14,191 units. Bengaluru’s sales decreased by 11% YoY, with 11,160 units sold, down from 12,588 units in the same period last year. Similarly, Ahmedabad recorded a 9% YoY drop, with 9,352 units sold compared to 10,305 units in the previous year.

Source: Real Insight Residential – July-September 2024, Housing Research

*Note: Numbers rounded off to nearest thousand.

New launches comparison (YoY Q3 2024 vs. Q3 2023)

In Q3 2024, Delhi NCR witnessed a robust 76% YoY rise in new launches, with 11,955 units introduced, compared to 6,810 in Q3 2023, indicating strong developer confidence. Conversely, Mumbai saw a 13% drop in new supply, with 31,123 units launched versus 35,923 last year. Hyderabad experienced a sharp 58% YoY decline, with new launches falling to 8,546 units from 20,481 in the previous year. Pune’s new supply also contracted 36% YoY to 13,543 units from 21,287. Despite a quarterly rise, Kolkata saw a 61% YoY drop, launching just 1,516 units compared to 3,850 units in Q3 2023.

Source: Real Insight Residential – July-September 2024, Housing Research

*Note: Numbers rounded off to nearest thousand.

Housing markets covered in the report are Ahmedabad, Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR (Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad), MMR (Mumbai, Navi Mumbai & Thane) and Pune.

Top 8 cities see 5% drop in sales, 25% fall in new launches: Proptiger report

The number of new residential units launched in the top 8 markets decreased from 1,23,080 units in Q3 2023 to 91,863 units in Q3 2024, the report said.

Key findings:

Sales: A total of 96,544 units were sold in Q3 2024, down from 1,01,221 units sold during the same period in 2023, reflecting a 5% annual decline
New Launches: The number of new residential units launched in the top 8 markets decreased from 1,23,080 units in Q3 2023 to 91,863 units in Q3 2024, marking a significant 25% drop

Major drops in Mumbai, Hyderabad and Pune

Source: Real Insight Residential – July-September 2024, Housing Research

*Note: Numbers rounded off to nearest thousand.

New launches comparison (YoY Q3 2024 vs. Q3 2023)

Source: Real Insight Residential – July-September 2024, Housing Research

*Note: Numbers rounded off to nearest thousand.

Housing.com unveils Mega Home Utsav 2024, anticipates over 53 million reach

The event will be hosted online, reaching property seekers in major cities with exclusive festive offers.

October 8th 2024: Housing.com, India’s No. 1 Real Estate App, is to announce its much-anticipated annual event, Mega Home Utsav 2024. Now in its eighth edition, the event will run from October 1 to November 15, 2024, featuring participation from over 4,200 esteemed developers and channel partners across 34 cities.

Coinciding with the festive season, a period for high-value purchases including real estate, Housing.com will present an array of deals and investment opportunities to potential homebuyers.

The event will be hosted online, reaching property seekers in major cities such as Mumbai, Navi Mumbai, Thane, Pune, Bengaluru, Chennai, Hyderabad, Noida, Gurgaon, Delhi, Faridabad, Ghaziabad, Kolkata, Ahmedabad, Vadodara, Jaipur, Lucknow, Bhopal, Indore, Nagpur, Nashik, Chandigarh, Goa, Coimbatore, Vijayawada, Visakhapatnam, Bhubaneswar, Guwahati, Kochi, Dehradun, Patna, Raipur, Surat and Varanasi.

With demand for residential real estate at an all-time high, factors such as stable housing loan rates and a favourable policy environment serve as significant enablers for homebuyers. Last year, the Mega Home Utsav reached an impressive audience of over 48 million, while the Housing New Home 2024 (HNH’24) that took place during the Jan to March quarter, surpassed 50 million, marking it the biggest event in terms of sales, audience, and participant count.

Some of the key developer partners showcasing their properties are, Nyati Group, Casagrand Builder Private Limited, Western Constructions, Kedia Group, Ashoka Builders India Private Limited, and Kalpataru to name a few.

As part of Mega Home Utsav 2024, Housing.com is rolling out an array of exclusive offers and incentives for homebuyers. Key benefits include a Free EV Charging Port for all flats, pay 20% now and rest on possession payment plan, and flexible financing options. Buyers can secure a property with just 20% payment and enjoy no pre-EMI until possession. Additional perks include a free gold coin upon booking, a flat 9% discount, modern modular kitchens, semi-furnished interiors, free home automation, and attractive rental schemes, among other exciting offers.

Amit Masaldan, Chief Revenue Officer, Housing.com, said, “This year, we expect to engage an audience of over 53 million on our platform. Housing.com remains India’s number one property destination, having maintained traffic leadership for close to three years. The Mega Home Utsav 2024 is more than just an event; it’s an unparalleled opportunity for prospective homebuyers to explore a diverse range of property options and exclusive offers tailored to their specific needs.”

The Mega Home Utsav 2024 will feature exciting new initiatives, including Influencer Marketing videos that allow developers to collaborate with prominent social media influencers to market their properties, and the “Keeping it Real with Housing.com” podcast series, inviting customers to engage with audiences through a unique channel.

To maximise its reach, Housing.com will roll out an omni-channel marketing campaign through digital and traditional media. This includes digital sponsorships of Bigg Boss Season 18 and major cricket events like India vs. Bangladesh and India vs. South Africa matches on OTT-CTV platforms, complemented by impactful campaigns on Instagram and YouTube to boost engagement for Mega Home Utsav 2024.

Housing.com unveils Mega Home Utsav 2024, anticipates over 53 million reach

The event will be hosted online, reaching property seekers in major cities with exclusive festive offers.

Coinciding with the festive season, a period for high-value purchases including real estate, Housing.com will present an array of deals and investment opportunities to potential homebuyers.

Residential market sees historic low in inventory overhang, signalling strong demand: Proptiger.com report

The inventory overhang varies significantly across regions, with Delhi-NCR recording the highest at 31 months and Kolkata the lowest at 16 months.

September 30, 2024: The Indian residential real estate market has hit a historic milestone, with inventory overhang (the estimated time required to sell off unsold stock based on sales velocity) dropping to 22 months in the June quarter, down from 34 months in the corresponding quarter last year. This decline underscores robust demand across the sector. Notably, the inventory overhang varies significantly across regions, with Delhi-NCR recording the highest at 31 months and Kolkata the lowest at 16 months.

In its quarterly report titled ‘Real Insight Residential – April-June 2024’, the Gurugram-headquartered firm highlighted significant improvements in key regions, with NCR’s Gurugram witnessing a substantial decline in inventory overhang from 72 months in Q2 2023 to 31 months in Q2 2024. Ahmedabad also showed strong performance, reducing its inventory overhang from 33 months to 18 months during the same period, reflecting the healthy demand dynamics in these markets.

Regarding unsold inventory, the report noted that despite a moderation in supply and absorption rates, India’s residential real estate market displayed resilience, achieving a 2% year-on-year decline, bringing the total to over 9.26 lakh units as of June 30. This reduction underscores the market’s capacity to adapt to evolving conditions, maintaining overall stability and indicating sustained buyer interest across various regions.

Vikas Wadhawan, Group CFO-REA India & business head, PropTiger.com, said, “The significant reduction in inventory overhang to 22 months from 34 months year-on-year reflects strong and sustained demand in India’s residential real estate market. Cities like Gurugram and Ahmedabad have shown remarkable progress, with NCR – Gurugram overhang dropping from 72 months in Q2 2023 to 31 months in Q2 2024, and Ahmedabad’s from 33 months to 18 months over the same period. This trend, combined with a 2% annual decline in unsold inventory to around 9.26 lakh units, underscores the market’s resilience and effective adjustment to evolving conditions. As we approach the festive season, we anticipate this positive momentum will continue to gain strength, further boosting market activity and buyer engagement across the country.”

Inventory overhang

Inventory overhang across key Indian cities has shown notable improvement compared to the same period last year. Ahmedabad and Bangalore saw significant reductions, with Ahmedabad’s inventory overhang decreasing from 33 months to 18 months and Bangalore’s from 36 months to 18 months. Delhi-NCR experienced a substantial drop from 72 months to 31 months, while Kolkata achieved a remarkable reduction from 34 months to just 16 months.

On a pan-India level, the overall inventory overhang decreased to 22 months from 34 months, reflecting a healthier balance between supply and demand in the residential real estate market.

Inventory Overhang (In Months)
City	Q2 24	Q2 23
Ahmedabad	18	33
Bangalore	18	36
Chennai	24	28
Delhi NCR	31	72
Hyderabad	26	39
Kolkata	16	34
Mumbai	26	33
Pune	21	27
Pan India	22	34
Pan India	22	34

Unsold inventory

Ahmedabad led the way in reduction in unsold inventory with the highest reduction, cutting over 12,500 units, followed by the NCR region, which saw a decrease of over 9,400 units. These reductions reflect healthy demand and a positive market outlook in these key cities, indicating that the market is effectively absorbing the available stock.

The Mumbai Metropolitan Region (MMR) and Pune — the two most important real estate markets in Maharashtra — accounted for 54 per cent of the total unsold inventory across top 8 cities at the end of the latest June quarter. The MMR and Pune markets have comparatively high unsold stock because of an increase in the number of new launches by developers as a response to strong consumer demand. In MMR, the unsold housing stock rose 1 per cent to 3,39,362 units in April-June 2024 from 3,35,476 units in the corresponding period of the previous year.

Inventory in Units as on 30th June
City	Q2 24	Q2 23	YoY Change
Ahmedabad	70,229	82,892	-15%
Bangalore	81,153	85,279	-5%
Chennai	33,204	33,721	-2%
Delhi NCR	91,299	1,00,702	-9%
Hyderabad	1,32,178	1,25,070	6%
Kolkata	21,098	25,179	-16%
Mumbai	3,39,362	3,35,476	1%
Pune	1,57,555	1,56,672	1%
Total	9,26,078	9,44,991	-2%

Note:

Inventory overhang refers to – The time, in months, required to sell the inventory at the current monthly sales velocity