Financial constraints, execution challenge, and environmental clearance are some of the major issues due to which over 4.65 lakh units of housing projects across India are way behind their delivery deadlines, according to a report by PropEquity, an online subscription-based real estate data and analytics platform.
Maximum distress is being faced by buyers from the National Capital Region (NCR). As per the report, nearly 1.80 lakh units valued at Rs 1.22 lakh crore are facing an uncertain future in the NCR region. On the other hand, in Mumbai Metropolitan Region, 1.05 lakh units worth Rs 1.12 lakh crore are pending completion.
“Although the markets are facing significant execution delays, we do expect the reputed developers to perform well,” said Samir Jasuja, Founder and MD of PropEquity.