DelhiNCR project analysis.

Q: Around 72% of housing project are delayed in NCR!! Kindly update me .

Akash Kanojia, Delhi

12th March 2015

Real estate News in Delhi

bank loan

emi

supply & demand

delhi real estate news

delhi housing projeccts

possession delayed

Follow Discussion

Also see discussions for

Delhi Real estate News Real estate News in Delhi

Replies (1)

Hi Mr Akash Kanojia,
Living within their own residence - associated not a rented accommodation - remains an endless anticipate lakhs of individuals agency set-aside residential units in the NCR. Over 72 % of the 6.45 lac homes that were speculated to be bimanual over to consumers by this year are delayed by anyplace from 2 to 4 years.

Sufia, Delhi

12th March 2015

Comment

@ Akash,

The common delay in possession is 29 to 30 months in Ghaziabad and Noida, severally, with Gurgaon at 34 months and Faridabad means behind at 44 months. The result: ample class families troubled to pay each rent of their rented homes and EMIs for those they bought for an extended time in these terribly pricy times.

Subho Mallik, Delhi

12th March 2015

As per my knowledge, this problem is most severe within the Noida region (including Noida Extension, Noida and Yamuna expressways and larger Noida) wherever nearly 3.2 lac of the 3.6 lac homes - or 88.7% units - that were speculated to are delivered by this year are delayed by up to 3 years.

Tushar Surendren, Delhi

12th March 2015

@ Mr Akash,
The biggest names are the worst performers here. People e that|those who} set-aside flats with builders who weren't accepted four to 5 years back area unit happier nowadays as their comes got prepared in time," aforementioned a property dealer UN agency failed to would like to be named.

In fact, the pile-up of unbuilt flats within the NCR follows the demand graph. Sources shows that of the flats to be delivered by this year, fifty seven in Gurgaon; forty sixth in Ghaziabad and four-hundredth in Faridabad area unit running overdue.

lekshmi.sanjeev@ymail.com, Delhi

13th March 2015

@ Akash,

Over 3 lac units launched from 2006 to 2011 are still below construction or wherever construction is nevertheless to start. Delay in receiving clearance from the govt bodies and regulatory approvals; poor project management, poor income of the developer, and increasing construction prices. However the only biggest reason, say real estate specialists and property dealers, is that the builders' greed to grow wherever cash collected from home buyers of one project isn't accustomed complete that however to launch many others - eventually exploit all of them hanging.

Ruchi Mishra, Noida

14th March 2015

@ Mr Akash,
This is the reason why small or unknown builders have been able to deliver in Noida and other parts of NCR while big ones have only published brochures of their chain of projects . Not surprising, the laggard builders keep their original direct booking price higher while the secondary market has their units going at deep discounts.

Pavan Jain, Delhi-NCR

15th March 2015

@ Mr Kanojia,

As per my knowledge, funds generated from one projects are diverted to launch or complete other projects results in delays. These reasons don't matter to suffering consumers whose are paying both rent and EMIs. The government or courts must take some action against builders. Meeting family expenses after paying EMI and rent is becoming increasingly tougher. There is no real recourse available to harried home buyers as state governments side with influential builders and leave the former to their fate.

Ankita, Delhi

16th March 2015

@ Akash Kanojia,

If the buyer has suffered from an inordinate delay from these projects, he can ask the developer to return his money with agreed interest rate (as mentioned in the contract document). If he still finds it difficult to get the money back and the chances of completion of project looks bleak, the he can opt for the legal recourse.

James, Delhi

17th March 2015

Hi Guys,

Invest considerable amount of time in due diligence before zeroing on a project/developer. The developer's track record in terms of delivered projects in the past and deliveries given in recent times should be an indicator. This is just a simple point of view , to creat awarness among property buyers.

rahul kirmani, Delhi

18th March 2015