Unsold Housing Stocks Surge in Seven Major Cities, But Sales Time Shrinks: JLL India Report

Unsold housing inventory across seven major cities in India has increased by 24% since 2019, reaching around 468,000 units by March 2024, according to JLL India. Despite higher supply, the time to sell these units has decreased by 31%, thanks to rising demand and faster sales velocity.

Reports indicate a 24% increase in unsold housing stocks across seven key cities since 2019, attributed to higher supply. However, JLL India reveals that the sales time has considerably reduced by 31% due to high sales velocity.

A newly released report by real estate consultant JLL India states that actively selling unsold housing inventory has surged to around 468,000 units by March 2024. This represents a notable 24% increase since December 2019 across cities including Delhi-NCR, Mumbai, Pune, Bengaluru, Chennai, Hyderabad, and Kolkata.

Despite the surge in unsold inventory, there's a remarkable 31% decrease in the time required to liquidate this inventory. In Q1 2024, the time to sell the active unsold properties has dropped to 22 months from 32 months at the end of 2019, driven by a significant rise in housing demand. This analysis is based on the average sales rates observed over the past 8 quarters and includes only apartments, excluding rowhouses, villas, and plotted developments.

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