India's big cities hold over 5.2L unsold homes, sales unchanged
India's big cities now have over 5.2 lakh unsold homes, a 4% jump from last year, according to Knight Frank India.
Even with all these extra houses, sales stayed flat at 1.71 lakh units, while builders kept launching new projects, pushing new launches up by another 4%.
Luxury 20-50cr unsold inventory rises 52%
It's taking just as long as before (about six quarters) to clear out existing stock, even though prices keep rising.
The luxury segment (think ₹20-50 crore homes) stands out: unsold inventory there shot up by 52%, and it could take over three years to sell what's left.
Meanwhile, NCR has over a lakh unsold flats with slower movement, but Mumbai leads in total numbers, yet thanks to strong demand and redevelopment in premium areas, its inventory is moving a bit faster and prices are climbing by around 3% to 5%.