Most of the real estate projects in India delayed by around 3 yrs.

Q: Due to the slowdown in realty market, project delay is very common these days. Completing a project on time is a big achievement.

Santosh TR,

28th October 2015

Real estate News in Mumbai

project delay

delay in project

delayed projects in india

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Don't worry. Kerala recorded highest compounded annual growth rate of about 59% in attracting real estate investments during the decadal period of 2005-06 and 2014-15 followed by Karnataka-40% and Uttar Pradesh-32%.

Savitri Hiremath, Mysore

30th October 2015

Comment

Hi everybody,
We can only say that government to pass the long-pending Real Estate Regulation and Development Bill on an urgent basis as it would help in resolving the key issues that are obstruct the growth of the sector.

Gautam Das, Delhi-NCR

29th October 2015

Comment

As per Assocham Secretory General D S Rawat, on an average, real estate projects in India are facing a delay of 33 months in completion. Realty projects in Andhra Pradesh are facing maximum delay of about 45 months followed by Madhya Pradesh 41-months, Telangana 40-months and Punjab-38 months.

Indrajit Kaul, Bangalore

28th October 2015

Comment

It is said that Maharashtra-21% alone accounts for over 1/5th share in the total outstanding investments attracted by real estate sector, followed by Uttar Pradesh-14%, Gujarat-13%, Karnataka-12% and Haryana-8%.

Suresh,

28th October 2015

Yes, Tamil Nadu and Telangana accounted for over 6% share each in terms of total outstanding investments garnered by realty sector in the country. Whereas Assam, Bihar, Chhattisgarh, Himachal Pradesh, Jammu and Kashmir, Jharkhand, Odisha and Uttarakhand together accounted for negligible share of less than even 2% in the total outstanding investments attracted by the sector.

Indrajit Kaul, Bangalore

28th October 2015

Right Santosh,
Project delay has huge financial loss for the buyer both in terms of home loan interest outflow and opportunity loss. Opportunity loss is potential rent received for a property. On an average, a project delay may cost you Rs 25000/month. At the time of purchase, builder assures the buyer on timely completion by incorporating penalty clauses w.r.t project delay in the agreement. But they always failed to do so.

Mahendra, Mumbai

28th October 2015

Comment

Yes, over 75% of 3540 live real estate projects with outstanding investments of more than Rs 14 lakh crore attracted by the real estate sector across India remained non-starters as of 2014-15.

Suresh,

28th October 2015

@S. Mahendra,
While over 2300 projects in the realty sector remained non-starters, over 1000 ongoing projects have registered significant delays in completion. With 964 projects, domestic private sector accounted for 95% share in projects facing delays, followed by public sector 49-projects and foreign private companies 6-projects.

Mahendra, Mumbai

28th October 2015