Real Estate: Mumbai, Pune unsold inventory at Rs 37,500 crore

Homebuyers are happy lots these days given the wider choice and price advantage offered by COVID-19 enforced lockdown.
There are more than 78,000 units unsold house in ready-to-move-in properties category.
As per the property consultants, out of the total unsold stock of over 6.44 lakh units in the top 7 cities as on March 2020 end, nearly 12 percent or approx. 78,000 homes are ready-to-move-in. The total stock of unsold RTM homes is worth about Rs 65,950 crore.

Mumbai Metropolitan Region (MMR) and Pune together have approx. 35,200 units, which are collectively worth Rs 37,550 crore. This accounts for 57% of the total value of ready unsold homes across all top 7 cities.
Although construction activity is completely halted all across, first-time homebuyers are at an unprecedented advantage to negotiate good deals on ready-to-move-in options and simultaneously benefit from all-time-low interest rates of 7.15% to 7.8%.

According to the research report, of the top cities, MMR has the maximum ready stock of nearly 19,200 unsold homes worth nearly Rs 26,150 crore. However, this ready stock is just 9 percent of the total unsold inventory of 2.13 lakh units in the region.

Pune has the second-highest ready unsold stock of nearly 16,000 units worth over Rs 11,400 crore. This is close to 17% of the total unsold stock of 93,300 units available in the city.
NCR has nearly 15,600 unsold ready homes worth Rs 10,720 crore while Bangalore currently has ready unsold stock of approx. 10,100 units worth Rs 7,150 crore
Chennai consists of nearly 9,400 units of such property worth Rs 5,800 crore. Kolkata and Hyderabad have ready unsold stock of nearly 5,300 units and 2,400 units, respectively.

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