Overhang looming on NCR residential actual property market, says ICRA

Overhang looming on NCR residential actual property market, says ICRA

Nationwide Capital area (NCR), the second-largest residential actual property market within the nation, was already beneath stress however the pandemic has made the state of affairs worse by driving the shoppers away.

With unsold stock surging to round 222 million sq.ft throughout 170,000 models and annual absorption plunging beneath 15 per cent, the market now has a list overhang of over 5 years, scores from ICRA estimates.

This not solely poses extra challenges for well timed liquidation of stock, notably in over-supplied markets akin to Noida and Sohna, however will increase headwind for builders as effectively.

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