Housing construction worth over Rs 5 lakh cr delayed: Anarock

03 Aug 2021 CW Team

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.

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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

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