1.13 Lacs NCR Housing Units Completely Stalled
<span style="font-weight: 400;">Approximately 1.13 lakh housing units in NCR worth Rs 86,463 crore are completely stalled which account for a whopping 66 percent of the total 1.74 lakh stalled units in the top seven cities, an analysis by Anarock has stated.</span> <span style="font-weight: 400;"
Published -
Aug 12, 2021 3:59 AM
Approximately 1.13 lakh housing units in NCR worth Rs 86,463 crore are completely stalled which account for a whopping 66 percent of the total 1.74 lakh stalled units in the top seven cities, an analysis by Anarock has stated. "More than 3.28 lakh homes are either terminally stalled or heavily delayed in NCR alone, accounting for 52 percent of all such units across India’s seven major cities. Launched in 2014 or before, these projects are ugly testimony to NCR’s darkest ‘Wild West’ years. Unregulated and unchecked, this market saw close to 2.58 lakh units unleashed between 2010 and 2015 by the leading 15 local players alone," the analysis said. Greater Noida comprises 50 percent of stuck or delayed units or approximately 1,62,720 units, followed by Noida with 16 percent share or approximately 53,680 units. In Gurugram, nearly 40,380 units or 12 percent homes are stuck or delayed. Ghaziabad comprises 10 percent of the overall share of stuck or delayed projects (approximately 33,970 units). "Delhi has nearly 15,740 units stuck or delayed which is nearly 5 percent total share. The remaining 7 percent are collectively in Bhiwadi and Faridabad – approximately 22,110 units. However, with the Central government’s SWAMIH funds with a corpus of Rs 25,000 crore has now coming forward to complete nearly 13 projects in Delhi-NCR and the government-backed NBCC and a few well-capitalized developers taking charge of a few stuck, the unsold inventory in the region has witnessed 26 percent decline - from 2.28 lakh units in 2015 to approximately 1.69 lakh units as on Q2 2021-end. The Central government’s SWAMIH funds with a corpus of Rs 25,000 crore has now come forward to complete nearly 1,500 stalled projects across the country. So far, SWAMIH funds have given approvals to more than 204 final or early-stage projects involving investments of Rs 18,500 crore across tier 1,2 and 3 cities. At least 13 projects in Delhi-NCR are likely to be completed within the next one year, as per the government. Likewise, the government-backed NBCC and a few well-capitalized developers have taken charge of various stuck projects in NCR.
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