Nearly 5.76 lakh housing units worth Rs 4,64,300 crore are delayed in seven major cities of the country despite implementation of the new real estate law RERA that came into effect May last year, according to property consultant ANAROCK. Of these delayed housing units that were launched in or before 2013, the ANARCOK report said that Mumbai Metropolitan Region (MMR) and the National Capital Region (NCR) account for 71 per cent in volume terms and 78 per cent in value terms.
ANAROCK’s numbers are higher than real estate data and analytics firm PropEquity’s, which recently came out with its report mentioning that 4,65,555 units worth nearly Rs 3.33 lakh crore were behind delivery schedule.
Housing units worth Rs 4.64 lakh crore delayed despite RERA implementation: ANAROCK
“Incessant project delays, dodgy activities of some developers and land litigation issues have plagued the Indian real estate sector over the last several decades, not helping its domestic and international image,” ANAROCK Chairman Anuj Puri said.
