<p>Construction of 1.74 lakh homes valued at Rs 1.40 lakh crore is “totally stuck” across seven Indian cities as of mid-2021, leaving the outlook for people who invested in the projects bleak.</p>.<p>As per a report by a realty consultant released, over six lakh homes valued at over Rs 5 lakh crore were classified as either fully stuck or delayed.</p>.<p>These units are in projects in seven cities, which were launched on or before 2014, the report by Anarock Property Consultants said.</p>.<p>It said the government's Special Window for Affordable and Mid-Income Housing (SWAMIH) fund has come to the rescue of several projects but did not specify the exact help tendered by the scheme.</p>.<p>Delhi-National Capital Region leads the chart with 1.13 lakh units in totally stalled projects having a value of Rs 86,463 crore, followed by Mumbai Metropolitan Region with 41,730 units worth Rs 42,417 crore, the report said.</p>.<p>In the overall list, including totally stuck and languishing projects, the NCR region has overtaken MMR, the report said. The NCR now accounts for 52 per cent of the over 6 lakh units either totally stuck and languishing valued at Rs 2.49 lakh crore, while MMR has 28 per cent of the affected stock worth Rs 1.52 lakh crore.</p>.<p>Pune contributes 8 per cent of the stuck or delayed projects list with a value of Rs 29,390 crore, the report said, adding Kolkata accounts of 5 per cent (valued at Rs 17,960 crore). The report said in southern cities, housing projects are mostly on track, which is evident through the data.</p>.<p>Hyderabad, Chennai and Bengaluru collectively contribute only 11 per cent of the total delayed or stuck projects.</p>.<p>Its head of research Prashant Thakur said NCR's share in the number of delayed or stuck projects has grown to 52 per cent in mid-2021 from 35 per cent as of end-2019 when it had last done such a study.</p>.<p>There can be various reasons for the jump in stuck or delayed projects in NCR like litigations, Covid-19 pandemic and issues around funding, he said, calling the decrease of such units in Pune and MMR during the same period as “remarkable”.</p>.<p><em>(With inputs from PTI)</em></p>
<p>Construction of 1.74 lakh homes valued at Rs 1.40 lakh crore is “totally stuck” across seven Indian cities as of mid-2021, leaving the outlook for people who invested in the projects bleak.</p>.<p>As per a report by a realty consultant released, over six lakh homes valued at over Rs 5 lakh crore were classified as either fully stuck or delayed.</p>.<p>These units are in projects in seven cities, which were launched on or before 2014, the report by Anarock Property Consultants said.</p>.<p>It said the government's Special Window for Affordable and Mid-Income Housing (SWAMIH) fund has come to the rescue of several projects but did not specify the exact help tendered by the scheme.</p>.<p>Delhi-National Capital Region leads the chart with 1.13 lakh units in totally stalled projects having a value of Rs 86,463 crore, followed by Mumbai Metropolitan Region with 41,730 units worth Rs 42,417 crore, the report said.</p>.<p>In the overall list, including totally stuck and languishing projects, the NCR region has overtaken MMR, the report said. The NCR now accounts for 52 per cent of the over 6 lakh units either totally stuck and languishing valued at Rs 2.49 lakh crore, while MMR has 28 per cent of the affected stock worth Rs 1.52 lakh crore.</p>.<p>Pune contributes 8 per cent of the stuck or delayed projects list with a value of Rs 29,390 crore, the report said, adding Kolkata accounts of 5 per cent (valued at Rs 17,960 crore). The report said in southern cities, housing projects are mostly on track, which is evident through the data.</p>.<p>Hyderabad, Chennai and Bengaluru collectively contribute only 11 per cent of the total delayed or stuck projects.</p>.<p>Its head of research Prashant Thakur said NCR's share in the number of delayed or stuck projects has grown to 52 per cent in mid-2021 from 35 per cent as of end-2019 when it had last done such a study.</p>.<p>There can be various reasons for the jump in stuck or delayed projects in NCR like litigations, Covid-19 pandemic and issues around funding, he said, calling the decrease of such units in Pune and MMR during the same period as “remarkable”.</p>.<p><em>(With inputs from PTI)</em></p>