The real estate saw a slew of changes to rule out corruption and black money that was routed through the sector, one of the major being the RERA. The implementation of RERA was expected to boost transparency in the sector and smoothen the road for both the developers and end-buyers.
The results are slowly falling in place with lesser unsold housing inventory reported by the month ending September in comparison to the year ago period. As per the study, the total inventory (unsold housing units) in 7 major cities under study stood at 6,85,000 units of which 2,00,000 have alone been reported from the NCR region. But this is less by 12000 units in the same period last year in the region.
In the region, the highest inventory (unsold) is accounted by Greater Noida and then by Gurugram.
After NCR follows, MMR or Mumbai Metropolitan region, Bengaluru, Pune, Kolkata, Chennai and Hyderabad
The assessment has been done from small firms driven by promoters to large corporate in the sector and across project categories. Also, under-construction to ready to move in housing segment had been covered in the report.
The limited supply of fresh housing projects in South India has boosted sales in these cities in comparison to other parts of India.
With Inputs From PTI