Winning Bizness Desk

Mumbai. There seems to be an unending road for the construction industry as the construction of houses worth about 4.8 lakh crores is currently or is stuck or it is getting delayed. By the end of May 2022, 4,79,940 houses worth Rs 4,48,129 crore were stuck in various phases of construction in these seven cities. Whereas at the end of calendar year 2021, construction of about 5,16,770 houses worth Rs 4.84 lakh crore was stuck in several phases. Between January and May 2022 this year, between January 2022 and May 2022, the construction work of 36,830 slow construction houses in these cities has been completed.

Rising costs making tough road ahead

This information has come out from the research report of property consultant firm Anarock. The 7 major cities of the country include Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bangalore, Hyderabad and Pune. Prashant Thakur, Senior Director, Anarock said, “The developers are committed to completing their projects. Taking advantage of the ongoing demand for ready-to-move homes. Those costs have risen sharply over the past five months. Despite this, builders are maintaining the pace of construction of housing projects.

Construction of 1,28,870 houses delayed in MMR

At present, construction of 2,40,610 houses worth Rs 1,81,410 crore is stuck in Delhi-NCR. At the same time, construction of 1,28,870 houses worth Rs 1,84,226 crore is being delayed in MMR. According to the Anarock report, Delhi-NCR and MMR account for 77% of the total stuck/delayed homes in 7 major cities of the country. While the southern metros Bengaluru, Chennai and Hyderabad account for just 9%. Pune's stake is around 9%, while Kolkata's is 5%.