PropTiger states that Mumbai, Delhi-NCR has the highest inventory
Currently, developers have about 1003 lakh unsold units in the Delhi-NCR, which comes second highest. Mumbai tops the list. Mumbai and Delhi have the highest inventory amount in the top-eight cities. PropTiger told that the inventory overhang in Delhi has increased to 64 months in Q2 2021 from 53 months last year.
RTMI units account for 42% of the total unsold stock, which is an issue of concern. PropTiger data tells us that in Q2 2021 only 23% of total units sold were under construction.
PoprTiger.com group said about price momentum and said that it is a very high price-sensitive market. Labour, raw material and compliance cost has increased. The input tax credit is also an issue.
It is expected to have increased in the prices. Many developers say that they have to elevate the prices over the next six months. For sure there will be a 7-10% increase in price.
As per PropTiger, the Delhi housing market has been gradually coming out of the uncertainties forced by the pandemic with the region recording sales of 2,828 units in Q2 2021, which rose 50% y-o-y but fell 54% q-o-q. The sales in Q2 2021 were reported the second-lowest in more than 3 years after Q2 2020 (1,886 units).
There is concern about the impact in demand as during April-June 2021 sales were largely concentrated in the less than Rs 45 lakh bracket (57%), followed by 18% in the Rs 45–75 lakh segment. The third wave of infections could force buyers in these two affordable housing categories to halt purchases till the time economy stabilizes.