• As of Q1 2022-end, the total available stock of affordable housing (<INR 40 lakh) in the top 7 cities is approx. 1,86,150 units; 2,34,600 units at Q1 2020-end
  • Chennai, Pune & MMR saw the highest supply decline of 52%, 33% & 27%, respectively
  • Supply of ultra-luxury homes (>INR 2.5 Cr) declined 5% in the same period – from approx. 41,750 units in Q1 2020-end to approx. 39,810 units by Q1 2022-end; MMR & Kolkata shed maximum ultra-luxury stock of 16% & 15%, respectively
  • Mid segment housing saw a 4% decline – from 1,97,880 units in Q1 2020-end to 1,89,310 units by Q1 2022-end
  • Premium & luxury homes (INR 80 lakh to INR 2.5 Cr) unsold stock increased in the same period

Mumbai, 19 April 2022: While the new supply of affordable housing has been shrinking over the last two pandemic years, demand remains healthy. ANAROCK data reveals that out of the total unsold stock across the top 7 cities, affordable housing inventory saw the most significant decline of 21% – from 2,34,600 units by Q1 2020-end to 1,86,150 units by Q1 2022-end.

COVID-19 has driven a lot of latent demand into tier 2 and 3 cities. This demand is driven by the improved economic growth, infrastructural developments, lower cost of living and more attractive real estate prices in these cities.