ASSOCHAM Report: Unsold houses are the highest in Delhi NCR, Mumbai at second


New Delhi. In various cities the number of unsold residential and commercial estate is increasing continuously. According to a report, the number of unsold houses and shops have recently risen 18-40 percent, and Delhi being recorded having highest number of such unsold homes. The biggest impact of unsold houses and steel sector has had on the related financial services. The biggest impact of unsold houses has had on related financial services and Steel Sector.

Despite of price fall, decline in demand

According to a study conducted by Chamber of Commerce and Industry ASSOCHAM, there has been decline in the demand to 25-30 percent despite of drop in the price of houses & shops and interest rates, while last year the demand of commercial sector plummeted by 35-40 percent.  

Mumbai being second

According to the report, activities have increased in the areas of Navi Mumbai, Thane and other suburbs of Mumbai. Mumbai is recorded second in the list of city with maximum unsold houses, Bangalore and Chennai being third and fourth.

While the percentage of unsold houses in Mumbai is 27.5, Bangalore and Chennai reported 25 percent and 22.5 percent, Ahmedabad got 20 percent, Pune at 19.5 percent and Hyderabad landed up at 18 percent.