Over 4.22 lakh homes face delay in completion: Anarock

18

New Delhi, May 18 | As the severe Covid crisis has brought about restrictions and lockdowns in states, over 4.22 lakh housing units which are scheduled to be completed by the end of 2021 across the top seven cities may get delayed in terms of completion, according to an Anarock report.

As per the report, NCR would see the maximum completions with a nearly 28 per cent share, followed by MMR with 26 per cent and Pune with around 18 per cent.

“There could be some delay due to restrictions and disruptions in the supply chain amid the second Covid-19 wave,” it said.

Further, around 72 per cent of the total homes to be delivered by 2021-end are already sold out.

If the fallout from the second wave does not impact construction activity again, the top seven cities will have around 1.18 lakh homes available for purchase by year-end.

In terms of budget categories, out of over 4.22 lakh homes to be delivered by 2021-end, 40 per cent are in the affordable segment, priced less than Rs 40 lakh, 35 per cent are in the mid-segment, priced between Rs 40 lakh to Rs 80 lakh.

Anuj Puri, Chairman, Anarock Property Consultants, said: “The tally of 4.22 lakh homes scheduled for delivery across the top seven cities by 2021-end must be viewed in context with the severe second wave of Covid-19 infections. All the top cities have been affected, and it is likely that a part of these project deliveries will be pushed to 2022.

“That said, many will see completion one way or the other. Amid the localised lockdowns and restrictions in most states, construction activities are permitted – albeit mandating Covid-19-specific protocols like adequate social distancing and sanitizing measures among in-situ construction workers.”

Source: IANS

LEAVE A REPLY

Please enter your comment!
Please enter your name here