Chennai emerges first, Delhi NCR last for projects completions timelines
New Delhi: Southern cities are leading the way in terms of completions of housing projects. Chennai witnessed 1.32 lakh homes being launched between 2013 till third quarter of 2020 2020 and 61 percent of them are ready-to-move already. This is the maximum share of completed homes among the top cities of the country.
Second position goes to Bengaluru that has 48 percent of the ready-to-move projects in the same time period. Third position is held by Hyderabad that has 44 percent share.
Delhi NCR, plagued, with its own problems, has the least percentage of completed homes. Only
26 percent of the 5.54 lakh houses launched between 2013 till Q3 of 2020 are complete, according to a report by ANAROCK.
Mumbai has 28 percent of the ready-to-move homes out of total 6.26 lakh houses launched in this period.
In all, 23 lakh houses were launched in the top 7 cities between 2013 till Q3 of 2020 and 34 percent is completed. About 19 percent is expected to be completed within one year.
South Indian cities' project completion rate is 4.1-4.3 years for small projects having 100-500 homes. The same is 5.5 - 5.9 years for large projects having more than 500 units. Delhi NCR has an average of 6 years for small projects and 7.2 years for large projects.