Unlike its other major counterpart MMR, NCR has fared better in shedding its overall unsold stock on both quarterly and yearly basis. It saw its stock decline by 7% in a year – from 1,90,650 units in Q3 2018 to 1,77,900 units in Q3 2019. On a quarter basis, the region reduced its unsold stock by 2% - far better than most top cities except Hyderabad.

City-wise, interestingly, Noida and Greater Noida have shed maximum stock – both on quarterly and yearly basis. Unsold inventory in Noida reduced by 7% q-o-q to be 19,480 units in Q3 2019. Similarly, the city saw yearly reduction of 16% since Q3 2018 when the unsold stock was close to 23,300 units. Alternately, in Greater Noida, the unsold inventory is more than double than that in Noida. As on Q3 2019, the unsold stock in Greater Noida was 48,350 units, reducing 5% from 50,810 unsold units since Q2 2019. On yearly basis, Greater Noida saw its unsold stock decline by a whopping 19%. It was 59,990 units in Q3 2018.
Gurgaon currently has the maximum unsold stock in the entire NCR region at 55,900 units, which reduced only marginally by 1% against the preceding quarter. On yearly basis, the city saw its unsold inventory pile up by a whopping 13% - it was 49,500 units in Q3 2018.
Both Faridabad and Delhi have also added more stock to the unsold category, both on yearly and q-o-q basis. Faridabad’s unsold stock was 4,780 units in Q3 2018 which has piled up to 6,020 units as on Q3 2019 while it was 5,180 units in Q2 2019. As for the national capital, the yearly stock has piled up from 10,900 units in Q3 2018 to 12,960 units in Q3 2019. It was 12,340 units in Q2 2019.
In contrast, Ghaziabad has also been able to shed its unsold stock by 18% on yearly basis – from 35,790 units in Q3 2018 to 29,440 units in Q3 2019. On quarterly basis, the city saw the stock reduce by 3% from 30,250 units as on Q2 2019.
Unsold stock in Bhiwadi has also reduced by 10% since the corresponding period in 2018 – from 6,390 units in Q3 2018 to 5,750 units in Q3 2019. It was 5,930 units in the preceding quarter of Q2 2019.

MMR Residential Update City-wise

New Supply Overview

Of the total 14,040 new units launched in entire MMR in Q3 2019, Mumbai witnessed new supply of 9,390 units comprising 67% share, followed by Navi Mumbai which saw launch of 2,430 new units (17% share) while Thane saw 2,220 units launched during the period.
On y-o-y basis, new stock in Mumbai reduced by 33%. It was 14,040 units in Q3 2018 – exactly the same number of launches that is seen by entire MMR in this quarter. Quarterly decline recorded was 38%.
Navi Mumbai saw its new supply reduce by 21% in the third quarter this year – from 3,060 units in Q3 2018 to 2,030 units in Q3 2019. On q-o-q, new supply declined by 34% and was 3,710 units in Q2 2019.
Thane saw its new stock decline by 19% on y-o-y basis. It was 2,740 units in Q3 2018 and now stands at 2,220 units in Q3 2019. It saw 48% decline over the preceding quarter - Q2 2019.

Absorption Overview

Of the total 17,180 units sold in entire MMR in Q3 2019, Mumbai witnessed housing sales of 11,630 units comprising over 68% share in entire region. On y-o-y basis, the city saw its sales decline by 9%. It was 12,750 units in Q3 2018. On quarterly basis, housing sales in Mumbai fell by 22% - from 14,850 units in Q2 2019.
Thane witnessed yearly reduction of meagre 1% in Q3 2019 – from 2,690 units in Q3 2018 to 2,660 units in Q3 2019. Q-o-Q, the city saw 16% decline in housing sales. Approx. 3,170 units were sold in Thane in Q2 2019.
Navi Mumbai saw housing sales rise yearly by 5% – from 2,740 units in Q3 2018 to 2,890 units in Q3 2019. However, on q-o-q basis, sales declined by 13% from 3,340 units in Q2 2019.

Unsold Inventory

As on Q3 2019, MMR had an unsold stock of nearly 2,20,870 units. Of this, Mumbai comprised 66% share with approx. 1,46,380 unsold units. On yearly basis, the city was able to shed its unsold stock by 3% while q-o-q it only saw 1% reduction in the unsold stock.
Thane has total unsold stock of 34,950 units as on Q3 2019, declining by 1% on quarterly basis and by 2% on y-o-y. Unsold stock as on Q3 2018 was 35,700 units approx.
Navi Mumbai’s unsold inventory is at 39,530 units in this quarter. Q-o-q, inventory declined by 1% from 39,990 units in Q2 2019. On yearly basis, the city saw its unsold stock pile by 7%. Unsold inventory was 37,000 units in Q3 2018.