Bangalore has very scanty unsold realty stock at 2.2 percent.

From the onset of 2015 there was a hue and cry in the country’s real estate sector about the unsold stock in the nation. The developers had reduced the launching of the new apartments or introducing new products in the market. The reason however is the slow sales and the low buyer’s sentiments across the country. But if that is the state of the most of the major markets of the nation let’s see what is the state of affairs in the market of Bengaluru. Is it the same story or is it any different?

In Bengaluru the trend watchers remark that the sales did pick up and the rate was higher in the city compared to most places in the country. According to a study conducted by the renowned global consultant JLL between 2010 and 2015, 2, 06,753 residential units were launched and the total unsold units remaining out of these were 4,492 units as of now which is just 2.2 percent. This study was done by JLL as per the instructions and requirement of the Bengaluru chapter of CREDAI.

 

The developers and the builders of the city of Bangalore have again displayed their adeptness in managing the mismatch between the supply and demand says the experts.  They opine that as in the last quarter of 2015 the sales had really increased as the builders of Bengaluru had been successful in pushing the sales up and take advantage of the market. 

CREDAI has been showing this survey results as a mark that Bangalore’s report is not as bad as the other cities like the NCR, Delhi and Mumbai where there are large unsold stocks. It was thought that Bangalore had one lakh unsold units and this news started circulating after some media reports flashed this news. CREDAI thus wanted the actual figures and hence employed JLL for doing this survey.

The report states that the total unsold stock in the category of properties that are under construction, the number of the completed projects stands at a figure which is 82, 357 units. Mumbai is also at the same position but in Delhi the number is 1, 80, 000 as per the report submitted by JLL.
The reason cited by the experts and the researchers for low levels of inventory were most of the developers got the right ticket size and thus provided the market with the right products at the right price. The study was conducted by JLL which covered 956 projects as the sample size. It included both villas and apartments constructed by 433 developers out of which 233 were the members of the CREDAI.