Housing bubble set to pop? Developers' unsold inventory at a 10-year high
About 1.2 billion sq ft worth Rs 6 lakh crore remains unsold in June 2016
Krishna Kant |
Last Updated at September 2, 2016 19:31 IST
Real estate developers continue to pile up inventory at a rapid pace. For the entire industry, unsold stock stood at 1.2 billion sq ft at the end of April-June 2016 quarter, according to a survey by real estate consultancy Liases Foras.
In the June quarter, unsold inventory increased by two per cent on a sequential basis and 17 per cent on a year-on-year (y-o-y) basis. The value of the inventory works out to Rs 6 lakh crore, assuming an average selling price of Rs 5,000 per sq ft. “As sales growth continues to lag behind new launches, unsold inventory continues to climb ...
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First Published: Fri, September 02 2016. 19:24 IST