Corona's second wave may delay completion of 4.22 lakh homes in 2021

New Delhi: The second wave of corona may delay the delivery of about 4.22 lakh homes that were scheduled to be completed by the end of 2021 in the top cities of the country.

Around 28 percent of the homes that were to be constructed by year-end are located in Delhi NCR, followed by 26 percent in Mumbai and 18 percent in Pune, according to a study by ANAROCK.

About 40 percent of such houses are in affordable category priced below Rs 40 lakh and another 35 percent are in mid-segment priced between Rs 40 lakh and Rs80 lakh. Only 9 percent in luxury segment and priced at more than Rs 1.5 crore.

The lockdown of the first wave witnessed construction of projects come to a total halt. But the second wave is less crippling with no outright ban and localized lockdowns.

“The tally of 4.22 lakh homes scheduled for delivery across the top 7 cities by 2021-end must, however, 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 localized 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 labourers,” said Anuj Puri, Chairman - ANAROCK Property Consultants.

 

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