Over 19 quarters taken to clear unsold real estate inventory, says Ind-Ra

Residential sales were down 50 per cent year-on-year (YoY) to 68 million square (sq.) feet (ft) in H1FY21 across the major six cities.

The Covid-19 pandemic-triggered lockdown had increased the number of quarters taken to clear unsold real estate inventory to over 15 at the end of 2019-20 (FY20). This number has increased to over 19 quarters at the end of the first half (H1) of 2020-21 (FY21), exacerbated by muted sales in the first quarter (Q1) and slow recovery in the second quarter (Q2), said India Ratings and Research (Ind-Ra), quoting data analytics firm Liases Foras.
 
Of the six key markets, Hyderabad and Bengaluru had the least inventory, while Chennai had the maximum unsold inventory, followed by the Mumbai Metropolitan Region