New Delhi: Among seven metro cities and regions, Delhi-NCR has seen the completion of the maximum number of ‘stuck’ flats since December last year, a survey by real estate consultants Anarock has said.
Of the 36,830 units that were completed in the seven cities and regions during the period, NCR accounted for 16,750 flats. It was followed by Mumbai and Bengaluru. Despite the highest number of completions, NCR also tops the cities in terms of stuck or delayed flats. The region now has 2,40,610 units that are yet to be delivered, according to the report.
“NCR and MMR together account for 77% majority share of the stuck or delayed units. The southern metros of Bengaluru, Chennai, and Hyderabad have just 9% while Pune has an approximately 9% share. Kolkata accounts for a minuscule 5% overall share,” the report said.
Surinder Singh, the director of GLS group, said the developers were serious about completing the delayed projects and delivering them to sustain market buoyancy. “Even the projects that are delayed or stuck because of various reasons have been seeing progress with help from government agencies and other developers,” he added.
Prashant Thakur, senior director and head of research at Anarock, said, “The developers have remained committed to completing their projects and are capitalising on the ongoing demand for ready-to-move houses. What is notable is that they are maintaining a momentum despite considerable headwinds from increased input costs, which have gone through the roof in the last five months.”
Thakur said the NBCC and the SWAMIH funds had also pushed many projects to completion.