Ready homes offer good opportunity for investment

A sizeable inventory of ready homes across India offers a good investment opportunity for prospective home buyers.

As per the latest industry statistics , currently there are 78000 ready-to- move in homes in top seven cities. These form 12% of the total 6.44 lakh unsold homes by March 31, 2020 .These unsold ready-to-move in homes are worth Rs 65950 crore. Out of these, MMR & Pune account for 45% share, having 19200 and 16000 unsold units respectively. NCR has an inventory of 15600 unsold ready homes worth 10700 cr. It is followed by Bangalore and Chennai, having 10100 and 9400 ready unsold units. Kolkata and Hyderabad have unsold ready homes stock of 5300 and 2400 units respectively.

Says Pradeep Aggarwal, Founder Chairman, Signature Global, Chairman Assocham, National Council on Real Estate, Housing and Urban Development,” Ready-to-move homes come without the risk of delivery delays or defaults. Moreover, the homebuyer does not have to pay GST. Not only that, developers are offering good deals too. Further, as low as 715% home loan rate makes home purchase a truly value proposition” .

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