New Delhi's real estate market is experiencing a significant shift, with the inventory overhang dropping to just 22 months in the June quarter, a marked decrease from 34 months in the same period last year. This decline indicates a robust sales velocity and a healthier property market.
According to a report by PropTiger.com, the National Capital Region (NCR), particularly Gurugram, has seen a dramatic reduction in its inventory overhang. It plummeted from an alarming 72 months in Q2 2023 to just 31 months in Q2 2024. This substantial improvement suggests a surge in buyer demand and a more balanced supply-demand dynamic in the region.
Similarly, Ahmedabad has demonstrated strong performance, reducing its inventory overhang from 33 months to 18 months within the same timeframe. This reduction reflects a growing confidence among buyers and highlights the ongoing demand for residential properties in these markets.
Overall, the current trends in Indian real estate indicate a positive shift towards quicker sales and reduced unsold stock, showcasing the resilience and attractiveness of the market.
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