Unsold housing stock across nine major cities fell 12 per cent year-on-year to 4,77,570 units at the end of the September quarter on better sales, according to data analytic firm PropEquity.
Unsold inventories stood at 5,40,849 units at the end of September 2021.
Delhi-NCR, Bengaluru and Pune saw the most decline in the unsold inventory, PropEquity said in a statement.
“The residential property market in the third quarter of 2022 has seen decent performance in the top cities on the country, both from the point of view of sales as well as new launches. There is a good appetite among the citizens of these cities for buying quality houses and thus there is significant buoyancy in the real estate market,” said Samir Jasuja, Founder and Managing Director at PropEquity.
As per the data, the unsold housing stock fell marginally in Thane to 1,03,862 units at the end of the September quarter from 1,04,374 units a year-ago.
Pune saw a 22 per cent decline in unsold stock to 70,475 units from 90,419 units, while Mumbai witnessed a 9 per cent fall to 55,059 units from 60,484 units.