The top 8 Cities of India saw strong growth in new supply, with above INR 5 Trillion worth of supply launched in FY23.

While sales also see growth, it stands at a value of INR 2.9 Trillion.

Unsold supply has gained over 1.3 Trillion worth of stock in the last year. Despite this, the month’s inventory (on units) stayed the same, giving New Supply one of the driving forces guiding sales.

There was a surge in New Launches in the luxury segment (above 1 Crore) in FY23, along with favorable sales in the same segment.

The unsold value of the residential stock had a net increase of ▲28%. This growth is mostly driven by new launches, particularly in the luxury ticket size segment ranging from 1.0 – 5.0 Crore.

 Q4 FY23 Market Performance 

Top 8 cities recorded an increase in sales of 7% in the Mar quarter (Q4 FY 22-23) with 81,438 units.

Chennai and NCR saw the highest % gain in sales at 18% and 16% growth, respectively.

The top 8 cities’ unsold stock increased marginally by 4% in Q4 FY 22-23.

The unsold stock increased in Hyderabad by 11%, Ahmedabad by 5%, Kolkata, MMR, and Chennai by 4%, Bangalore by 3%, Pune by 2%, and NCR by 0%.

Months inventory decreased by one month in the quarter in the Top 8 Cities combined.

Inventory overhangs of Bangalore and Pune are lowest among the Top 8 cities at 22 and 24 months, respectively.

Prices in the Top 8 Cities declined 2% on QoQ while they increased 8% on a YoY basis.

Also Read: In a first 457 Real Estate Agents to Appear for MahaRERA exam on May 20

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