In the Realty Market of Delhi-NCR for a long time, the developers have to give a deposit of 1.66 lakh units till December this year, but on the basis of recent records, Realty Consultants believe that the builder does not deliver at such a large level.It is also a great deal to achieve 35-40% possession of the target on the basis of the projectes estimates in 2017.
According to the Anarch Property Consultants report, till December, the goal of possession is nearly four times more than last year’s delivery. In the entire NCR, the developers had pledged to provide 1.9 lakh flats in 2017, but they could only deliver 42,500, which was 22 percent of the target. The highest 73,000 (49%) flat is not denied the possession in Greater Noida. Similarly, in Ghaziabad 25,300 (17%), Gurgaon in 19400 (13%) and Noida, 16000 (11%) flats could not be delivered on time.
In Greater Noida, 84,200 units were to be delivered in 2017, but only 13 percent, while the rest of the units are to be submitted by December 2018. Apart from this, there will also be pressure on the delivery of units running till the target of being complete by December. Apart from this year in Ghaziabad, the remaining 8,100 flats in the previous year have to be delivered. Gurgaon has 14,400 and Noida has 7,900 units of previous delivery.
Research head of Enarak Prashant Thakur said that till December in 2018 total 1.66 lakh houses have to be delivered in the NCR, which seems as a big challenge. The process of compliance and delivery has increased due to the Rera and the expectations of the customers are also high, but it is also a big deal to get a little less than half possession on the basis of last year’s record and the current year’s assessment.
The GST implemented last year has also had a lot of impact in the process of construction and possession .After July 1, 2017, the developers have had to change the strategies for projects that are getting compliance certificates and starting work on unfinished construction.Delivery is delayed due to this. However, even after the intervention of the UP government and the Noida Authority, the procedure for posting in Noida and Ghaziabad has increased.
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