~4.66 lakh homes delivery in 2020 may miss deadline

30 Jun 2020 CW Team

Photo: For representational purpose

If not for COVID-19, the top 7 cities were to see the delivery of nearly 4.66 lakh units by 2020-end. Launched after 2013, many of the projects were in the final leg of completion. With almost zero construction activity in last few months due to the lockdown, the completion deadlines for almost all these real estate projects has got extended, says data by Anarock Research.

听

Most state RERAs have already given a six-month extension to developers on previously committed timelines. However, homebuyers鈥� wait could run into several additional months for well-funded projects, and as much as two years for others.

听

2021 was to see completion of nearly 4.12 lakh units across the top 7 cities 鈥� 12 per cent lower than in 2020. Most of these projects will probably also get delayed.

Says Anuj Puri, Chairman, Anarock Property Consultants, 鈥溠遣┨逵偻滓砨uyers will have to adjust to new realities. As many as 4.66 lakh units were slated to be delivered in 2020 and another 4.12 lakh in 2021. Maximum completions (in both years) were to happen in NCR (approximately 2.40 lakh units). This region is set to witness more project delays over and above the backlog of over 2 lakh units already delayed in the region from before.鈥�

听

He adds that the government must intervene to address multiple challenges including labour shortage in top cities. 鈥淓ven if developers have the financial strength, it will still take a while for most of them to resume construction because lakhs of labourers have left cities and migrated back to their villages. Moreover, many of the top cities are still grappling with the virus.鈥�

听

Projected completions in 2020 and 2021

听

Prior to COVID-19, the top 7 cities were to see completion of over 8.78 lakh units in 2020 and 2021 combined. Of this total expected supply, nearly 4.66 lakh units were to be added in 2020 and the remaining 4.12 lakh units in 2021.

听

NCR was to see maximum completions in both years 鈥� of about 2.40 lakh units. Of this, 1.01 lakh units were to come up in 2020 and another 1.39 lakh units in 2021..
MMR is second with nearly 2.10 lakh units expected to be delivered in two years 鈥� 1.07 lakh units in 2020 and nearly 1.03 lakh units in 2021.
Bengaluru was expected to see delivery of nearly 1.51 lakh units in 2020 and 2021. This year the city was likely to see delivery of 1.01 lakh units while in the next year it was just half at nearly 50,000 units.
Pune was to see completion of nearly 1.36 lakh units in both years 鈥� 69,000 in 2020 and 67,000 in 2021.
Kolkata was next with nearly 59,000 units meant to be delivered in two years 鈥� 33,900 units in 2020 and nearly 25,100 units in 2021.
Hyderabad was to see completion of more than 45,200 units in both years 鈥� 30,500 units in 2020 and another 14,700 units in 2021.
Chennai had the least completions in both years 鈥� about 37,000 units. Of this, 24,650 units were to complete in 2020 while another 12,520 units in 2021.

Photo: For representational purposeIf not for COVID-19, the top 7 cities were to see the delivery of nearly 4.66 lakh units by 2020-end. Launched after 2013, many of the projects were in the final leg of completion. With almost zero construction activity in last few months due to the lockdown, the completion deadlines for almost all these real estate projects has got extended, says data by Anarock Research.听Most state RERAs have already given a six-month extension to developers on previously committed timelines. However, homebuyers鈥� wait could run into several additional months for well-funded projects, and as much as two years for others.听2021 was to see completion of nearly 4.12 lakh units across the top 7 cities 鈥� 12 per cent lower than in 2020. Most of these projects will probably also get delayed.Says Anuj Puri, Chairman, Anarock Property Consultants, 鈥溠遣┨逵偻滓砨uyers will have to adjust to new realities. As many as 4.66 lakh units were slated to be delivered in 2020 and another 4.12 lakh in 2021. Maximum completions (in both years) were to happen in NCR (approximately 2.40 lakh units). This region is set to witness more project delays over and above the backlog of over 2 lakh units already delayed in the region from before.鈥澨鼿e adds that the government must intervene to address multiple challenges including labour shortage in top cities. 鈥淓ven if developers have the financial strength, it will still take a while for most of them to resume construction because lakhs of labourers have left cities and migrated back to their villages. Moreover, many of the top cities are still grappling with the virus.鈥澨齈rojected completions in 2020 and 2021听Prior to COVID-19, the top 7 cities were to see completion of over 8.78 lakh units in 2020 and 2021 combined. Of this total expected supply, nearly 4.66 lakh units were to be added in 2020 and the remaining 4.12 lakh units in 2021.听 NCR was to see maximum completions in both years 鈥� of about 2.40 lakh units. Of this, 1.01 lakh units were to come up in 2020 and another 1.39 lakh units in 2021..MMR is second with nearly 2.10 lakh units expected to be delivered in two years 鈥� 1.07 lakh units in 2020 and nearly 1.03 lakh units in 2021.Bengaluru was expected to see delivery of nearly 1.51 lakh units in 2020 and 2021. This year the city was likely to see delivery of 1.01 lakh units while in the next year it was just half at nearly 50,000 units.Pune was to see completion of nearly 1.36 lakh units in both years 鈥� 69,000 in 2020 and 67,000 in 2021.Kolkata was next with nearly 59,000 units meant to be delivered in two years 鈥� 33,900 units in 2020 and nearly 25,100 units in 2021.Hyderabad was to see completion of more than 45,200 units in both years 鈥� 30,500 units in 2020 and another 14,700 units in 2021.Chennai had the least completions in both years 鈥� about 37,000 units. Of this, 24,650 units were to complete in 2020 while another 12,520 units in 2021.

Products

19 May 2025

unWOOD transforms plastic waste into durable wood alternative

unWOOD, a breakthrough innovation, is converting hard-to-recycle plastic waste into a durable alternative to natural wood. Developed through a proprietary process called Intelligent Compounding, unWOOD uses a Macro Molecular Fiber Matrix (MMFM) structure to replicate the strength, look, and feel of hardwood鈥攚ithout the environmental cost.Conceptualised by Dr Babu Padmanabhan, the material addresses key flaws in traditional plastic recycling by consuming minimal energy, using zero water, and generating no microplastics. 鈥淎ny application that introduces plastics into areas where it cannot be..

Real Estate

19 May 2025

H盲fele launches Matrix undermount runners range

H盲fele has introduced its new Matrix range of undermount runners, designed to enhance drawer motion across kitchens, wardrobes, bathroom units, and more.Available in four weight capacities and a wide range of lengths, the Matrix undermount runners support diverse drawer designs. The 40 kg and 60 kg variants feature synchronised technology for superior motion and drawer stability. All runners come with an integrated soft-close mechanism to ensure smooth and noiseless operation.This in-house range is ideal for kitchen cabinets, bed storage units, living room furniture and bathroom drawers, offe..

Real Estate

19 May 2025

India's first AI-integrated campus announced in Noida

Yashoda Hospital and Bhutani Infra have announced plans to develop India鈥檚 first fully AI-integrated mixed-use campus in Greater Noida West. The upcoming project will feature a hospital, retail spaces, offices, SOHOs, serviced apartments, and a hotel鈥攁ll operating within a self-learning, generative AI-powered ecosystem.The AI-first campus will integrate real-time data systems, predictive analytics, and adaptive infrastructure to offer personalised experiences across functions. From AI-enabled footfall tracking and dynamic energy optimisation to smart F&B and retail insights, the develo..