Delhi-NCR's inventory overhang reduces to 27 months in Q2 FY22: ANAROCK

Strong sales numbers and limited new supplies have helped Delhi-NCR reduce its housing inventory overhang by a whopping 53 months from 80 months in Q2 2021 to 27 months in Q2 2022. Lowest inventory overhang in Q2 2022 since 2015 signals a favourable residential market scenario in a long time, as per a research report by real estate services company ANAROCK.  

ANAROCK further stated in its research that developers in the Delhi-NCR region restricted new supply despite robust sales as only 4,070 units were launched in Q2 2022. Of the new housing supply, 2,830 new units were launched in Gurugram and 740 new units were launched in Ghaziabad in the same period.  

While 390 new units were launched in Greater Noida, no new units were launched in Noida. Just 110 new units were launched in Q2 2022 in Faridabad, Delhi and Bhiwandi together.  

Number of new units launched in Q1 2022 stood at 7,890 in Gurugram, 920 in Faridabad, Delhi and Bhiwandi together, 270 in Noida and 220 in Ghaziabad whereas no new units were launched in Greater Noida in the same period.  

Talking of available housing inventory in Q2 2022, Gurugram has maximum stock of 59,120 units and was followed closely by 28,875 units in Greater Noida. During the same period, 23,100 units were unsold in Faridabad, Delhi and Bhiwandi together.  

Unsold housing inventory stood at 12,150 units in Noida and 17,990 units in Ghaziabad. Total unsold inventory during the same period stood at 1,41,235 units.  

Total unsold housing inventory stood at 1,52,505 units in Q1 2022. Unsold housing inventory in the same period stood at 63,870 units in Gurugram, 31,235 units in Greater Noida, 18,900 units in Ghaziabad, 13,800 units in Noida and 24,700 units in Faridabad, Delhi and Bhiwandi together.  

On the housing sales front in Q2 2022, Gurugram led the pack with sale of 7,580 units. Greater Noida (2,750 units), Ghaziabad (1,650 units), Noida (1,650 units) and 1,710 units sold in Faridabad, Delhi and Bhiwandi together. In Q1 2022, these numbers stood at 8,850 units in Gurugram, 3,450 units in Greater Noida, 2,080 units in Ghaziabad, 2,045 units in Noida and 2,,410 units in Faridabad, Delhi and Bhiwandi together.  

“Inventory measured in months indicates the number of months it will take for the current unsold housing stock on the market to sell at the current absorption rate. NCR saw its unsold stock decline by 16 per cent on a yearly basis – from approx. 1,68,710 units in Q2 2021-end to approx. 1,41,240 units as of Q2 2022-end,” said Prashant Thakur, Sr. Director & Head – Research, ANAROCK Group.