More than one-fourth of the total 5.2 lakh housing stocks being constructed in the national capital region (NCR) are unsold due to weak demand, according to property consultant Knight Frank.
The NCR market witnessed about 31 per cent decline in the new home launches at 33,500 units during the second half of 2012-13 fiscal compared with the year-ago period, while sales fell by 12% to 33,200 units in the review period.
On housing prices, Knight Frank’s latest report on the NCR residential market said that there has been a steady price appreciation in most of the micro-markets even though demand remained subdued in the NCR market. It attributed the rise in prices to increase in construction cost and investor demand. About 66% of the unsold units are in Noida and Greater Noida.