Should you buy your dream home during this Navratri? Weigh your options

Delhi NCR has the highest volume at around 1,50,654 units which remained unsold in 2017.

Should you buy your dream home during this Navratri? Weigh your options

New Delhi: If you have long been planning to buy your dream home, Navratri is perhaps a good time to do so. As per property consultant JLL India report, 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.

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 percent. Kolkata had the lowest volume of unsold inventory at about 26,000 units.

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.

As per the survey report, the Delhi-NCR property market saw the highest volume of unsold inventory of 1,50,654 units spread across the perimeter of Delhi, Gurgaon, Ghaziabad, Faridabad, Noida and Greater Noida.

Noida and Greater Noida together contributed to nearly 60 percent of the total unsold inventory, mostly in under construction projects. Mumbai has about 86,000 unsold units and Bengaluru nearly 70,000 units while Pune has 36,000 unsold flats. Hyderabad witnessed unsold inventories of about 28,000 units.

Here is a detailed report on the number of unsold inventories and the options available to you

Inventories in Noida-Greater Noida

There are  11,844 unsold inventories in Noida's sector 70,73, 79,117 and 121 with rates ranging between Rs 4,900 - Rs 5,000 per sqft. In Noida expressway, there are 12,063 unsold inventories with rates ranging between Rs 5,500-6,000 per sqft . 13,525 units are unsold in Pari Chowk with rates ranging between Rs 3,900 – Rs 4,000 per sqf, while in Greater Noida West there are 58,693 units with rates ranging between Rs 3,300- Rs 3,500 per sqft. Yamuna Expressway has 16,725 units with rates ranging between Rs 3,100- Rs 3,200  per sqft.

Inventories in Ghaziabad

15,324 unsold inventories in Rajnagar Extension with rates ranging between Rs 2,500- Rs 2,600 per sqft. NH24 has 17,529 unsold inventories with rates ranging between Rs 3,300-3,400  per sqft.

Inventories in Gurugram

6,325 units are available in Gurugra-Dwarka Expressway with rates ranging between Rs 6,900-7,000 per sqft. 9,560 units are unsold in Sohna Road and SPR with rates ranging between Rs 6,800-6,900 per sqft. 11,825 units are available in new Gurugram with rates ranging between Rs 6,200-6,300 per sqft.

Inventories in Mumbai

88,633 unsold units are available in Western Mumbai Suburbs with rates ranging between Rs 5,400-5,500 per sqft. 28,290 units are available in Thane with rates ranging between Rs 9,600-9,700 per sqft. 40,631 units are available in Central Suburbs with rates ranging between Rs 13,200-13,400 per sqft.

Inventories in Ahmedabad

10,673 unsold units are available in Zone 1 with rates ranging between Rs 3,700-3,800 per sqft. 29,219  unsold units are available in Zone 4 with rates ranging between Rs 2,300-2,400 per sqft.

Inventories in Nagpur

6,105 unsold units are available in Vardha Road with rates ranging between Rs3,200-3,300  per sqft. 1,844  unsold units are available in Hanuman Nagar Road with rates ranging between Rs 3,100-3,200 per sqft.

(Reported by: Gorav Khosla)

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