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ANAROCK Property Consultants’ study show a 6-year low in inventory levels of residential units in MMR

ANAROCK Property Consultants analysis throws light on MMR's unsold inventory overhang which is close to the level in 2015.

ANAROCK Property Consultants’ study show a 6-year low in inventory levels of residential units in MMR
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According to ANAROCK Property Consultants, MMR’s current unsold inventory overhang is near the level last witnessed in 2015, where it stood at 42 months. The consultants say that this fall is the highest amongst the top 7 cities in the country. The MMR which comprises, Mumbai, Navi Mumbai and Thane, has fared decently in curtailing the high inventory levels of residential units in the past year. Currently, the level stands at a 6-year low.

In June end 2021, the MMR unsold housing inventory overhang reduced to 43 months from its peak of 55 months in 2020. When compared to other major cities, the MMR registered a maximum decline of 6% in the total unsold stock. This was from approximately 2.10 lakh units of 30th June’20 to approximately 1.97 lakh units on 30th June’21. A positive sign is that the majority of the decline is attributed to a rise in house sales. The region recorded total sales of close to 58170 units between April and June of last year and this year. New launches, on the other hand, stood at around 41500 units.

Their study also states that the property prices in Mumbai surged by 7-10 times in the last 20 years. Also, the average monthly income required to own a house in the city is the highest amongst other major cities in the country. Before the pandemic struck, less than 5% of people in Mumbai could buy a home outright or through a housing loan.  

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