5.58 lakh homes could be completed in 2023 across 7 cities

23 May 2023 CW Team

According to real estate consultant Anarock, developers are expected to complete approximately 5.58 lakh homes in seven major cities this year, driven by efforts to accelerate construction activities.

Anarock's data reveals that 5,57,900 homes are scheduled for completion in 2023, a significant increase compared to the 4,02,000 units targeted in 2022. While it remains unclear whether builders met their 2022 targets, Anarock attributes the higher number of completions to factors such as the implementation of the realty law RERA, improved cash flow from increased housing sales, utilisation of advanced construction technologies, and enhanced funding from financial institutions.

The consultant emphasises that developers are keen to avoid project delays, which often result in cost overruns. Anarock Vice Chairman Santhosh Kumar states that nearly 5.6 lakh homes are expected to be delivered across the top seven cities in 2023, marking a 39% increase from the previous year. Delhi-NCR is projected to witness the highest number of completions, with 1,70,100 homes scheduled for delivery, followed by the Mumbai Metropolitan Region (MMR) with an estimated 1,31,400 units. Pune is expected to see the completion of 98,400 units, Bengaluru 80,100 units, Kolkata 36,700 units, Hyderabad 23,800 units, and Chennai 17,400 units.

Industry experts attribute the increased pace of completions to the impact of RERA, which has weeded out non-serious developers and left only those committed to timely project delivery and customer satisfaction. Signature Global Chairman Pradeep Aggarwal highlights the positive effect of RERA on the market. Atul Banshal, Director of Finance at Omaxe Ltd, underscores their focus on project completion, with an average annual delivery of 3-4 million square feet.

Infrastructure Transport

19 Dec 2025

Tripura Rail Survey Approved For Jirania–Bodhjung Link

The Ministry of Railways has approved a Final Location Survey (FLS) for a proposed new railway line between Jirania and Bodhjung Nagar in Tripura. The planned section will span 14 km and is estimated to cost around Rs 4.2 million, with the entire alignment located within West Tripura district. The approval marks a key step towards strengthening railway infrastructure and supporting industrial growth in the state. Bodhjung Nagar is Tripura’s principal industrial and commercial hub, developed mainly for resource-based industries such as rubber, bamboo and food processing. The proposed Jirania..

MCF Raebareli Rolls Out Its 15,000th Passenger Coach

The Modern Coach Factory (MCF) in Raebareli, Uttar Pradesh, has reached a major production milestone with the manufacture of its 15,000th passenger coach on December 15, the Ministry of Railways said. During the current financial year 2025–26, the unit has produced a total of 1,310 coaches so far. Established in 2007 at Lalganj in Raebareli, MCF is among India’s most advanced passenger coach manufacturing facilities. Built at a cost of around Rs 31.92 billion, the factory has an installed annual capacity of 1,000 coaches and is located about 3 km from Lalganj on the Kanpur–Raebareli Roa..

RVNL Wins Gandak River Rail Bridge Contract

Rail Vikas Nigam Limited (RVNL) has received a Letter of Award from North Eastern Railway for a major railway infrastructure project valued at Rs 1.65 billion. The contract relates to the construction of the substructure for a key railway bridge over the Gandak River. The bridge will be constructed between Paniyahwa and Valmikinagar stations as part of the doubling of the Gorakhpur Cantt–Valmikinagar railway section. Designed to enhance capacity and operational efficiency, the structure will comprise 14 spans of 61 metres each and will be supported by double D-type well foundations. The des..