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According to a new report on properties and delayed construction in India, Delhi-NCR has 2,40,610 stuck/delayed worth ₹1,81,410 crore as of June 2022. Whereas, the Mumbai Metropolitan Region (MMR) has 1,28,870 units of stock worth ₹1,84,226 crore.
Property consultant Ananrock in its latest report said that Delhi-NCR and MMR together account for 77% of total delayed housing units, while Bengaluru, Chennai, and Hyderabad have just 9% of such properties.
As per the report, Bengaluru city has 26,030 stuck/delayed units worth ₹28,072 crore. Hyderabad has 11,450 stuck/delayed units worth ₹11,310 crore. In Chennai, Anarock said that 5,190 units worth ₹3,731 crore are currently stuck or significantly delayed. Pune had 44,250 units worth about ₹27,533 crore. And, Kolkata has 23,540 stuck/delayed units worth over ₹11,847 crore.
Cumulatively, construction work of nearly 4.8 lakh homes worth ₹4.48 lakh crore is currently stuck or significantly delayed across seven major cities. However, 36,830 languishing homes were completed in these cities (Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Hyderabad, and Pune) between January 2022 and May 2022.
Anarock has taken only those housing projects that were launched in 2014 or before across seven cities for its research.
Homebuyers in Delhi-NCR have been worst affected with several builders including Jaypee Infratech, Unitech, Amrapali, and The 3C Company, defaulting on their promises to deliver their projects.
"Several large developers as well as the SWAMIH fund and state-owned NBCC have taken over stuck/delayed inventories and are completing pending construction works," said Prashant Thakur, Senior Director & Head - Research, Anarock.