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Writer's pictureThe Realty Fair
Jun 82 min read

Unsold housing inventory: Delhi NCR cities down 57%, Gurgaon down 37% Real Estate


Title: NCR Real Estate Market Sees Remarkable Improvement in Unsold Inventory Meta Description: Discover the impressive turnaround in Delhi-NCR's real estate market as unsold housing inventory decreases by 57% over the past five years. Explore the factors driving this positive shift and the renewed buyer confidence in the region. Blog: In a significant turnaround for the real estate market in Delhi-NCR, recent data from real estate consultants reveals a remarkable decline in unsold housing inventory by 57% over the past five years. This improvement marks a substantial shift from the region's previous reputation for speculation-driven oversupply and market disorder. The decline in unsold inventory is a clear indicator of the region's improved market health, with NCR leading the way followed by Southern markets like Bengaluru, Hyderabad, and Chennai. Bengaluru, Hyderabad, and Chennai collectively saw their unsold stock shrink by 11% over the same period, reflecting a positive trend in Southern markets. The positive sentiment in the NCR real estate sector is echoed by developers who express confidence in the market's resurgence. Surinder Singh, Director of GLS Group, attributes the reduction in unsold inventory to improved market sentiments and increased demand for homes. Developers' commitment to meeting market needs and delivering quality living spaces has contributed significantly to this positive shift. Delhi-NCR's improved performance can also be attributed to developers' efforts to control new supply additions, keeping them under control over the past few years. Despite witnessing total new supply of approximately 1.81 lakh units between Q1 2018 to Q1 2024, developers in NCR have demonstrated restraint in adding to the existing inventory. The distribution of unsold inventory across different regions within NCR further highlights the region's positive trajectory. Gurgaon, Noida, Greater Noida, Ghaziabad, Delhi, Faridabad, and Bhiwadi have all witnessed significant reductions in unsold stock, reflecting a broader trend of market recovery and renewed buyer confidence. Overall, the decline in unsold inventory in Delhi-NCR signifies a promising outlook for the region's real estate market. As developers continue to maintain discipline in supply additions and market sentiments remain positive, the NCR market is poised for further growth and stability in the coming years.

Using the unsold housing inventory as a measure of a region’s real estate market health, Delhi-NCR in North India—formerly infamous for speculation-driven oversupply and widespread market disorder—now shows a marked improvement compared to other regions. Recent data from real estate consultants reveals that Delhi-NCR’s unsold inventory has decreased by an impressive 57% over the past five years.


NCR is followed by Southern markets – Bengaluru, Hyderabad, and Chennai – which saw their collective unsold stock shrink by 11% in this period.  MMR and Pune in the West saw their cumulative unsold stock reduce by 8%. In the East, Kolkata saw its unsold inventory decline by an impressive 41% in the period.  NCR’s unsold stock declined from approx. 2 lakh units at Q1 2018-end to approx. 86,420 units by Q1 2024-end.


NCR based developers are upbeat with the development and said the residential market has regained confidence and will continue in the coming years. Surinder Singh, director GLS Group, said “The improved sentiments in the real estate sector, coupled with increased demand for homes, have significantly reduced our unsold inventory. This positive shift reflects our commitment to meeting market needs and delivering quality living spaces.”

Of the total unsold inventory in NCR, Gurgaon currently has the maximum stock of approx. 33,326 units – a 37% decrease in the last five years.


Noida had approx. 7,451 unsold units by Q1 2024-end, against 25,669 units in the same quarter of 2018 – thus declining by 71%, topping the list.  “Greater Noida is next with approx. 18,668 units lying unsold as of Q1 2024-end. However, Greater Noida reduced its stock by a whopping 70% since Q1 2018. Ghaziabad saw its unsold stock decline to approx. 11,011 units in Q1 2024, from approx. 37,005 units in Q1 2018 – a massive 70% 5-year decline” said the report.


Delhi, Faridabad & Bhiwadi together had approx. 15,964 unsold units as on Q1 2024-end, from approx. 23,038 units at Q1 2018-end – a 31% decrease.


What really worked for the NCR market was developers’ determination to keep new supply additions under control. ANAROCK data indicates that NCR witnessed total new supply of approx. 1.81 lakh units between Q1 2018 to Q1 2024. NCR’s upbeat performance also reflects renewed buyer confidence in the region” said Singh.

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