4.48 lakh crore in 7 big cities of the country. The construction of houses worth about 4.8 lakh crores is currently or is stuck or it is getting delayed. By the end of May 2022, 4,79,940 houses worth Rs 4,48,129 crore were stuck in various phases of construction in these seven cities. Whereas, at the end of the calendar year 2021, the construction of about 5,16,770 houses worth Rs 4.84 lakh crore was stuck in several phases. Between January and May 2022 this year, the construction work of 36,830 houses being built at a slow pace in these cities has been completed.
Costs have risen sharply in the last 5 months
This information has come out from the research report of property consultant firm Anarock. The 7 major cities of the country include Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Hyderabad, and Pune. Prashant Thakur, Senior Director, Anarock said, “The developers are committed to completing their projects. Taking advantage of the ongoing demand for ready-to-move homes. Those costs have risen sharply over the past five months. Despite this, builders are maintaining the pace of the construction of housing projects.
77% share of stuck houses in Delhi-NCR
According to the Anarock report, Delhi-NCR and MMR account for 77% of the total stuck/delayed homes in 7 major cities of the country. While the southern metros Bengaluru, Chennai, and Hyderabad account for just 9%. Pune's stake is around 9%, while Kolkata's is 5%.
At present, the construction of 2,40,610 houses worth Rs 1,81,410 crore is stuck in Delhi-NCR. At the same time, the construction of 1,28,870 houses worth Rs 1,84,226 crore is getting delayed in MMR.
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