Delhi NCR has more than twice stuck homes than Mumbai
Noida: Delhi NCR housing market has more than twice stalled homes than Mumbai. While Delhi NCR has about 1,13,860 houses that are stalled, Mumbai has around 41,730 units, according to a report by ANAROCK.
In terms of value of the homes stalled, Delhi NCR has about Rs 86,463 crore worth of property that is stuck while Mumbai has around Rs 42,417 crore worth of homes stalled.
Delhi NCR has about six percent of its stalled stock in the luxury category while Mumbai has 37 percent of the stuck homes in the same category.
Pune has about Rs 5,854 crore worth of homes that are stuck. Interestingly, Kolkata has just 150 homes that are stalled.
“Previously, NCR had a 35% share of total delayed units (in 2019). However, its share now increased to 52 percent as several projects launched in NCR in 2014 are also included, he says. “There are many possible reasons, including COVID-19, funding issues, and litigations. The decrease in delayed units in Pune and MMR is remarkable - from 16 percent and 36 percent by 2019-end to 8 percent and 24 percent by H1 2021-end,” said Prashant Thakur, Director & Head - Research, ANAROCK Property Consultants.