this is the first time that in a quarter, NCR’s total unsold stock clocked in lower than in South India's collective unsold stock. In the West's MMR and Pune, the unsold stock declined by 10% between the pre and post-pandemic periods - from approx. 3.07 lakh units by Q1 2020 to approx. 2.75 lakh units in Q1 2022.
The quality of the site office can lead to better per-unit revenue for the developer. Even in new markets, the combination of a developer's brand and an excellent site/sales office can deliver adequate sales numbers even without show flats.
The BFSI sector is finally seeing the feasibility of looking beyond MMR. Cities with sub dollar (under USD 1/sq/ft.) office rents and enough relevant talent pools are now gaining momentum.
In Bengaluru, the affordable and mid-segments are driving residential demand. Given the good sales, developers saw it opportune to increase the average prices