A slump in home sales has pushed builders’ inventory to ‘unsustainable levels’ in the National Capital Region of Delhi, creating conditions for a real price correction that developers have so far avoided, experts say.
According to latest reports, builders in the National Capital Region had 175,000 unsold apartments in the three months to June. Most of the apartments though are under construction. While sales have been on a slide in most of the big cities, the problem in the NCR is peculiar. A mix of high prices and large sizes has pushed most of the on-sale apartments beyond the reach of average home buyers.