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~4.66 lakh homes delivery in 2020 may miss deadline
2020-06-30
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.
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Most state RERAs have already given a six-month extension to developers on previously committed timelines. However, homebuyers? wait could run into several additional months for well-funded projects, and as much as two years for others.
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2021 was to see completion of nearly 4.12 lakh units across the top 7 cities ? 12 per cent lower than in 2020. Most of these projects will probably also get delayed.
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