At 7 Years, NCR Saw Longest Project Completion Time in Last Decade
- Avg. time to complete large residential projects (>500 units each) to complete was 6.5 yrs. in top 7 cities from 2010-2019
- In Delhi-NCR, homebuyers’ wait longest at 7.2 years for large projects, followed by MMR with avg. time of 6.5 yrs.
- Southern cities - avg. time in Bangalore and Hyderabad the least of top cities at 5.5 yrs., Chennai close behind at 5.6 yrs.
- In Kolkata avg. time for project completion was 6.3 yrs., in Pune 6.2 yrs.
- For smaller projects (100-500 units), NCR avg. wait time 6 yrs., Chennai lowest at 4.2 yrs.
In a significant trend seen in the last decade, homebuyers in NCR had to wait for the longest time to get possession of their flats among the top 7 cities.
Latest ANAROCK data reveals that the average completion time for large residential projects in NCR, launched and completed between 2010-2019, was 7.2 years. For the top 7 cities collectively, the average completion time for large projects stood at 6.5 years in this period.
The difference of 1.5 years of average completion time between NCR and the southern cities may not seem significant at a macro level. However, this period must be measured in the real-time strain it adds to consumer patience and optimism.
Among the major reasons for NCR to trail behind are project delays due to land ligation issues, many developers’ lack of professionalism in project delivery, and also the periodic construction bans by both NGT and the apex court due to rising pollution levels.
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5 年I think it will change for post RERA projects, all over India. It is bound to reduce now. In NCR majority of projects stalled were in Noida / Greater Noida / Ghaziabad where rogue developers in convenience with bad political system entered the market.