Delhi-NCR property market has most caught housing models at 1.9 lakh, value practically Rs 1.2 lakh crore, that have been delayed by no less than seven years, in line with property marketing consultant Anarock.
A complete of 1,90,120 housing models, value Rs 1,19,291 crore, have been caught within the Delhi-NCR as of 2020-end. These flats have been launched in 2013 and earlier than.
The property market of Mumbai Metropolitan Region (MMR) has the second highest variety of caught housing models at 1,80,250, value Rs 2,02,145 crore.
Across seven main cities, as many as 5,02,340 housing models, value Rs 4,07,005 crore, have been caught on the finish of final yr.
As on 2019-end, 1,322 initiatives comprising 5.76 lakh models have been caught in numerous levels.
Commenting on the report, Anarock Chairman Anuj Puri mentioned: “Project delays have been the bane of the Indian real estate sector over the last decade. Even the implementation of RERA had only a little impact on this”.
Among different components, the liquidity crunch threw up roadblocks for builders, which is why the federal government intervened with the creation of the Alternate Investment Fund (AIF) in late 2019 with a corpus of Rs 25,000 crore, he mentioned.
“This last-mile capitalization mechanism couched in the Special Window for Affordable & Mid-Income Housing (SWAMIH) fund has proved to be effective in getting stuck projects going again,” Puri mentioned.
As many as 190 caught/delayed housing initiatives accounting for over 73,560 models have been accomplished in 2020, Anarock mentioned.
As per the info, 29,850 housing models value Rs 22,276 crore have been caught in Bengaluru.
Pune has 80,480 models value Rs 49,667 crore that have been delayed as of 2020-end.
As many as 9,180 housing models value Rs 5,436 crore have been delayed in Kolkata.
Hyderabad has 6,520 caught housing models value Rs 4,305 crore, whereas Chennai has 5,940 models value Rs 3,886 crore.
