More than six lakh homes are getting delayed in the National Capital Region (NCR). The deadline for delivery of nearly two-thirds of the houses has already crossed more than two years ago. This is reflected in the data collected by the real estate sector’s rating and research company.According to real estate research firm Liases Foras, a large portion of the pending housing projects in NCR are in Noida, Greater Noida and Gurgaon.The NCR is at the top of the 43 cities where delivery is delayed, while Mumbai Metropolitan Region is second in List where 1.31 lakh houses have been delayed for more than 2 years.
Government asks for details of pending projects: According to the statistics, every third house pending for more than two years is in NCR whereas in Mumbai region this figure is one fourth. Figures show that even after the delivery deadline, construction work of 29.23 lakh houses has been going on. Half of them have passed a year or more from the time limit. In addition to NCR and Mumbai, delivery of large number of homes in Chennai, Pune and Bengaluru has been delayed for two or more years.
These figures have surfaced when the real estate developers’ lobbies are pushing the construction houses out of the Real Estate Regulation Act (RERA). MD of Liases Foras Pankaj Kapoor said “Current situation has arisen from regulatory interventions such as not investing in the market, booking more than capacity from developers and preventing all construction works in some areas.”
Sources of the housing ministry say that they have sought information about the pending housing projects out of their state. Significantly, the Times of India published a report on delays in delivery on 13th November, but it was on nationally-pending projects that did not have city-to-city information.