Construction work of nearly 4.8 lakh homes worth Rs 4.48 lakh crore are currently stuck or significantly delayed across seven major cities as per a recent report,
Property consultant Anarock surveyed housing projects that were launched in 2014 or before across seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Hyderabad and Pune.
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Anarock said that the Delhi-NCR and MMR together account for 77 per cent of the total stuck/delayed housing units, while the southern metros Bengaluru, Chennai, and Hyderabad have just 9 per cent.Pune has about 9 per cent share, while Kolkata accounts for 5 per cent.
At the end of December 2021, NCR had 2,57,360 stuck/delayed units worth Rs 1,94,034 crore.In MMR, 1,28,870 units are stuck/delayed worth Rs 1,84,226 crore.
Homebuyers in Delhi-NCR have been worst affected with several builders including Jaypee Infratech, Unitech, Amrapali, and The 3C Company, defaulting in their promises to deliver their projects.