6.28 lakh homes worth Rs 5 lakh cr in top cites completely stalled or delayed
New Delhi: Around 6.28 lakh homes worth Rs 5 lakh crore in the top cities of the country are either completely stalled or delayed.
Out of this, about 1.74 lakh homes worth Rs 1.4 lakh crore, are completely stalled, according to a report by ANAROCK.
The outlook for the ‘completely stalled’ projects is ‘disastrous’ while for the ‘delayed’ projects, it is ‘bleak at best’, ANAROCK said.
The top 7 cities are Mumbai, Delhi NCR, Bengaluru, Pune, Hyderabad, Kolkata and Chennai. Only those residential projects have been included in the study that were started in 2014 or before.
“As of H1 2021-end, we have nearly 6.29 lakh units that are yet to be completed across the top-seven cities.”, said Prashant Thakur, Director and Head-Research, Anarock.
Delhi-NCR has the highest share (66 percent) of the total stalled stock in the top seven cities. It has about 1.13 lakh houses worth about Rs 86,463 crore.
Pune has 9,990 stalled houses worth around Rs 5,854 crore and Bengaluru has 3,870 stalled homes worth about Rs 3,061 crore. Interestingly, Chennai has no stalled projects.