Second wave of Covid-19 to unlikely impact delivery of residential units

19 May 2021 CW Team

They may face a delay in the supply of construction material or labour availability is affected. Almost 72% of the entire homes delivered by the end of 2021 are already sold out, and 28% are remaining unsold.

National Capital Region (NCR) would see the highest completions with an almost 28% share, accompanied by Mumbai Metropolitan Region (MMR) with 26% and Pune with around 18%.

According to Anarock's research, the top seven cities will have around 1.18 lakh homes available for purchase by the end of this year.

Anarock Property Consultants Chairman, Anuj Puri, told the media that the tally of 4.22 lakh homes scheduled for delivery across the top seven cities by end of this year, yet, be observed in context with the second wave of Covid-19. All the top cities have been impacted, and a part of these project deliveries will probably be pushed to 2022.

Since lockdown 1.0 most of the developers experienced a steep learning curve. Since ready homes are in large demand, many developers with projects due to reach completion in 2021 will consider this as a deadline.

Over 4.22 lakh homes will be delivered by the end of this year and 40% are in the affordable segment valued at Rs 40 lakh. As much as 35% are in the mid-segment valued between Rs 40 lakh to Rs 80 lakh.

The market situations stand favourable for the home buyers and the investors in the backdrop of low interest rates, productive deals from the developers, choices of apartments, flexible payment schemes from banks and financial institutions, and attractive price points to take the correct buy.

As per Anarock, approximately 58,290 residential units were sold across the top seven cities in the country in the first quarter (Q1) 2021.

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Also read: Mumbai witnesses over 10,000 property registrations in April 2021

Also read: Affordable housing keeps real estate sector afloat: PropTiger

Amid the raging second wave of Covid-19, the delivery of residential units seems to have a minimal impact with over 4.22 lakh units scheduled to be completed by end of 2021 over the highest seven cities. They may face a delay in the supply of construction material or labour availability is affected. Almost 72% of the entire homes delivered by the end of 2021 are already sold out, and 28% are remaining unsold. National Capital Region (NCR) would see the highest completions with an almost 28% share, accompanied by Mumbai Metropolitan Region (MMR) with 26% and Pune with around 18%. According to Anarock's research, the top seven cities will have around 1.18 lakh homes available for purchase by the end of this year. Anarock Property Consultants Chairman, Anuj Puri, told the media that the tally of 4.22 lakh homes scheduled for delivery across the top seven cities by end of this year, yet, be observed in context with the second wave of Covid-19. All the top cities have been impacted, and a part of these project deliveries will probably be pushed to 2022. Since lockdown 1.0 most of the developers experienced a steep learning curve. Since ready homes are in large demand, many developers with projects due to reach completion in 2021 will consider this as a deadline. Over 4.22 lakh homes will be delivered by the end of this year and 40% are in the affordable segment valued at Rs 40 lakh. As much as 35% are in the mid-segment valued between Rs 40 lakh to Rs 80 lakh. The market situations stand favourable for the home buyers and the investors in the backdrop of low interest rates, productive deals from the developers, choices of apartments, flexible payment schemes from banks and financial institutions, and attractive price points to take the correct buy. As per Anarock, approximately 58,290 residential units were sold across the top seven cities in the country in the first quarter (Q1) 2021. Image SourceAlso read: Mumbai witnesses over 10,000 property registrations in April 2021 Also read: Affordable housing keeps real estate sector afloat: PropTiger