Home Business 4.8 lakh houses price Rs 4.48 lakh cr caught or delayed in...

4.8 lakh houses price Rs 4.48 lakh cr caught or delayed in prime 7 cities; 2.4 lakh models in NCR


NEW DELHI: Development work of practically 4.8 lakh houses price Rs 4.48 lakh crore are at present caught or considerably delayed throughout seven main cities, though builders have accomplished 37,000 such models to date this yr, in line with property marketing consultant Anarock.
For its analysis, Anarock has taken solely these housing tasks that have been launched in 2014 or earlier than throughout seven cities — Delhi-NCR, Mumbai Metropolitan Area (MMR), Kolkata, Chennai, Bengaluru, Hyderabad and Pune.
As per the info, 36,830 languishing houses have been accomplished in these cities between January 2022 and Might 2022.
On the finish of Might 2022, Anarock mentioned that 4,79,940 models price Rs 4,48,129 crore have been caught in varied development phases throughout these seven cities.
The property markets of those seven cities have been saddled with about 5.17 lakh models price Rs 4.84 lakh crore on the finish of 2021 calendar yr.
“Builders stay dedicated to finishing their tasks and are capitalizing on the continuing demand for ready-to-move houses,” mentioned Prashant Thakur, Senior Director & Head – Analysis, Anarock.
“What’s notable is that they’re sustaining momentum regardless of appreciable headwinds from elevated enter prices, which have gone via the roof within the final 5 months. The truth that housing demand has remained sturdy in final two years clearly helps,” he mentioned.
A number of massive builders in addition to the SWAMIH fund and state-owned NBCC have taken over caught/delayed inventories and are finishing pending development works, Thakur mentioned.
Anarock mentioned that the Delhi-NCR and MMR collectively account for 77 per cent of the whole caught/delayed housing models, whereas the southern metros Bengaluru, Chennai, and Hyderabad have simply 9 per cent.
Pune has about 9 per cent share, whereas Kolkata accounts for five per cent.
Amongst cities, Delhi-NCR noticed the utmost completion of 16,750 models throughout January-Might, 2022. Presently, the NCR area has 2,40,610 caught/delayed models price Rs 1,81,410 crore.
On the finish of December 2021, NCR had 2,57,360 caught/delayed models price Rs 1,94,034 crore.
In MMR, 1,28,870 models are caught/delayed price Rs 1,84,226 crore. The area had 1,34,170 languishing models price Rs 1,91,807 crore on the finish of the final yr.
Round 5,300 models have been accomplished in MMR throughout January-Might this yr.
Bengaluru noticed completion of three,960 models throughout January-Might 2022. Presently, the Bengaluru metropolis has 26,030 caught/delayed models price Rs 28,072 crore.
On the finish of the final yr, the IT metropolis had 29,990 caught/delayed models price Rs 32,345 crore.
In Hyderabad, 1,710 models have been accomplished throughout January-Might 2022. The town at present has 11,450 caught/delayed models price Rs 11,310 crore, whereas on the finish of December 2021, the determine was 13,160 models price Rs 12,995 crore.
In Chennai, Anarock mentioned that 5,190 models price Rs 3,731 crore are at present caught or considerably delayed. On the finish of 2022, the town had 8,870 such models.
Chennai at present boasts of the bottom burden of caught models among the many prime seven cities, the marketing consultant mentioned.
On the finish of Might 2022, Pune had 44,250 models price about Rs 27,533 crore. In 2021-end, the town had 48,100 caught houses price Rs 35,220 crore.
As many as 3,850 caught/delayed models in Pune acquired accomplished throughout January-Might this yr.
Kolkata noticed completion of 1,580 houses throughout January-Might this yr. Presently, Kolkata has 23,540 caught/delayed models price over Rs 11,847 crore. In 2021-end, there have been 25,120 caught/delayed models price Rs 12,639 crore.
Homebuyers in Delhi-NCR have been worst affected with a number of builders together with Jaypee Infratech, Unitech, Amrapali, and The 3C Firm, defaulting of their guarantees to ship their tasks.
Anarock, which is likely one of the main property consultants in India, achieved a 32 per cent development in its income at Rs 402 crore over the last fiscal yr.
Anarock, established by Anuj Puri in April 2017, is majorly into housing brokerage and sells flats on behalf of the builders. It additionally offers consultancy in different segments of actual property like workplace, retail, warehousing and knowledge centre.





Supply hyperlink

RELATED ARTICLES

Too huge to jail: The story of HSBC and the Mexican drug cartel

In 2012, HSBC was fined $1.9bn and entered right into a Deferred Prosecution Settlement for facilitating the laundering of cash by the Mexican medication...

American Airways regional carriers hike pilot pay as scarcity persists

American Airways Embraer ERJ-145 regional jet plane as seen on closing strategy touchdown at New York JFK worldwide airport in NY, on February...

“Will make sure that financial institution turns into the very best financial institution finally”: Subramaniakumar, RBL Financial institution

Cash & BankingThe incumbent MD & CEO of RBL Financial institution – R Subramaniakumar and Rajeev Ahuja who was the interim MD &...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Too huge to jail: The story of HSBC and the Mexican drug cartel

In 2012, HSBC was fined $1.9bn and entered right into a Deferred Prosecution Settlement for facilitating the laundering of cash by the Mexican medication...

American Airways regional carriers hike pilot pay as scarcity persists

American Airways Embraer ERJ-145 regional jet plane as seen on closing strategy touchdown at New York JFK worldwide airport in NY, on February...

Recent Comments