+
Housing construction worth over Rs 5 lakh cr delayed: Anarock
Real Estate

Housing construction worth over Rs 5 lakh cr delayed: Anarock

According to a report by Anarock Property Construction, construction of six lakh housing units priced over Rs 5 lakh crore across seven Indian cities are either stuck or delayed.

Anarock said that these construction projects were launched on or before 2014.

As per the report, 1.74 lakh houses of Rs 1.40 crore are stuck, and two-third of these units are below Rs 80 lakh.

Special Window for Affordable and Mid-Income Housing (SWAMIH) has rescued many projects but did not specify the exact help by the scheme.

National Capital Region (NCR) of Delhi records 1.13 lakh units are stalled projects worth Rs 86,463 crore, and Mumbai Metropolitan Region's (MMR) 41,730 units of Rs 42,417 crore. The total stuck projects in NCR have taken over the projects in MMR, the report said.

The NCR region consists of 52% of the total stuck projects of over 6 lakh houses, worth Rs 2.49 lakh crore, while the MMR consists of 28% of the affected stock, worth Rs 1.52 lakh crore.

Pune has 8% of the stuck, delayed projects of Rs 29,390 crore, and Kolkata with 5% stuck projects of Rs 17,960 crore.

As per the data, the housing projects in southern Indian cities are much on track. Hyderabad, Chennai, and Bengaluru consist of only 11% delayed or stuck projects collectively.

The research head, Prashant Thakur, said that the projects delayed or stuck in NCR have increased to 52% in mid-2021 from 35% in end-2019.

The delayed or stuck can be due to various reasons such as NCR litigations, Covid-19 pandemic restrictions, and funding, which led to a decrease in housing units in Pune and MMR.

Image Source


Also read: Brokerage firms in race to sell Amrapali housing units in Noida

Also read: Affordable rental housing: DDA nods scheme under Delhi master plan

According to a report by Anarock Property Construction, construction of six lakh housing units priced over Rs 5 lakh crore across seven Indian cities are either stuck or delayed. Anarock said that these construction projects were launched on or before 2014. As per the report, 1.74 lakh houses of Rs 1.40 crore are stuck, and two-third of these units are below Rs 80 lakh. Special Window for Affordable and Mid-Income Housing (SWAMIH) has rescued many projects but did not specify the exact help by the scheme. National Capital Region (NCR) of Delhi records 1.13 lakh units are stalled projects worth Rs 86,463 crore, and Mumbai Metropolitan Region's (MMR) 41,730 units of Rs 42,417 crore. The total stuck projects in NCR have taken over the projects in MMR, the report said. The NCR region consists of 52% of the total stuck projects of over 6 lakh houses, worth Rs 2.49 lakh crore, while the MMR consists of 28% of the affected stock, worth Rs 1.52 lakh crore. Pune has 8% of the stuck, delayed projects of Rs 29,390 crore, and Kolkata with 5% stuck projects of Rs 17,960 crore. As per the data, the housing projects in southern Indian cities are much on track. Hyderabad, Chennai, and Bengaluru consist of only 11% delayed or stuck projects collectively. The research head, Prashant Thakur, said that the projects delayed or stuck in NCR have increased to 52% in mid-2021 from 35% in end-2019. The delayed or stuck can be due to various reasons such as NCR litigations, Covid-19 pandemic restrictions, and funding, which led to a decrease in housing units in Pune and MMR. Image Source Also read: Brokerage firms in race to sell Amrapali housing units in Noida Also read: Affordable rental housing: DDA nods scheme under Delhi master plan

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors.To read full article Click Here ..

Next Story
Real Estate

Glass, Reframed!

Glass façades, quintessential aesthetic building envelopes globally, have been widely adopted in India as well. But when the focus is high-performance building systems that deliver energy efficiency, comfort and architectural identity, glass isn’t the only preference. Combination solutions, involving glass and some other material, improve façade outcomes. Some combinations come at comparable prices, some at a higher price. Here is a selection of performance-oriented solutions...To read the full story Click Here ..

Next Story
Infrastructure Urban

Beyond Building Faster

India’s cities are expanding at an unprecedented pace, bringing new infrastructure and development opportunities while also intensifying challenges around mobility, public spaces, liveability and supporting infrastructure. The question, therefore, is not simply whether India can build faster, but whether it can build cities that work better.At a CW webinar, Are We Designing Better Cities – or Just Building Faster?, moderator Ar. Samir Shaikh, Founding Principal, AR&UD Studio, brought together perspectives from design, development, master planning and technology...To read the full artic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code