Second wave of Covid-19 to unlikely impact delivery of residential units
Real Estate

Second wave of Covid-19 to unlikely impact delivery of residential units

Amid the raging second wave of Covid-19, the delivery of residential units seems to have a minimal impact with over 4.22 lakh units scheduled to be completed by end of 2021 over the highest seven cities.

They may face a delay in the supply of construction material or labour availability is affected. Almost 72% of the entire homes delivered by the end of 2021 are already sold out, and 28% are remaining unsold.

National Capital Region (NCR) would see the highest completions with an almost 28% share, accompanied by Mumbai Metropolitan Region (MMR) with 26% and Pune with around 18%.

According to Anarock's research, the top seven cities will have around 1.18 lakh homes available for purchase by the end of this year.

Anarock Property Consultants Chairman, Anuj Puri, told the media that the tally of 4.22 lakh homes scheduled for delivery across the top seven cities by end of this year, yet, be observed in context with the second wave of Covid-19. All the top cities have been impacted, and a part of these project deliveries will probably be pushed to 2022.

Since lockdown 1.0 most of the developers experienced a steep learning curve. Since ready homes are in large demand, many developers with projects due to reach completion in 2021 will consider this as a deadline.

Over 4.22 lakh homes will be delivered by the end of this year and 40% are in the affordable segment valued at Rs 40 lakh. As much as 35% are in the mid-segment valued between Rs 40 lakh to Rs 80 lakh.

The market situations stand favourable for the home buyers and the investors in the backdrop of low interest rates, productive deals from the developers, choices of apartments, flexible payment schemes from banks and financial institutions, and attractive price points to take the correct buy.

As per Anarock, approximately 58,290 residential units were sold across the top seven cities in the country in the first quarter (Q1) 2021.

Image Source


Also read: Mumbai witnesses over 10,000 property registrations in April 2021

Also read: Affordable housing keeps real estate sector afloat: PropTiger

Amid the raging second wave of Covid-19, the delivery of residential units seems to have a minimal impact with over 4.22 lakh units scheduled to be completed by end of 2021 over the highest seven cities. They may face a delay in the supply of construction material or labour availability is affected. Almost 72% of the entire homes delivered by the end of 2021 are already sold out, and 28% are remaining unsold. National Capital Region (NCR) would see the highest completions with an almost 28% share, accompanied by Mumbai Metropolitan Region (MMR) with 26% and Pune with around 18%. According to Anarock's research, the top seven cities will have around 1.18 lakh homes available for purchase by the end of this year. Anarock Property Consultants Chairman, Anuj Puri, told the media that the tally of 4.22 lakh homes scheduled for delivery across the top seven cities by end of this year, yet, be observed in context with the second wave of Covid-19. All the top cities have been impacted, and a part of these project deliveries will probably be pushed to 2022. Since lockdown 1.0 most of the developers experienced a steep learning curve. Since ready homes are in large demand, many developers with projects due to reach completion in 2021 will consider this as a deadline. Over 4.22 lakh homes will be delivered by the end of this year and 40% are in the affordable segment valued at Rs 40 lakh. As much as 35% are in the mid-segment valued between Rs 40 lakh to Rs 80 lakh. The market situations stand favourable for the home buyers and the investors in the backdrop of low interest rates, productive deals from the developers, choices of apartments, flexible payment schemes from banks and financial institutions, and attractive price points to take the correct buy. As per Anarock, approximately 58,290 residential units were sold across the top seven cities in the country in the first quarter (Q1) 2021. Image SourceAlso read: Mumbai witnesses over 10,000 property registrations in April 2021 Also read: Affordable housing keeps real estate sector afloat: PropTiger

Next Story
Infrastructure Urban

CONCOR Launches Double-stack Service Between NCR and Varnama

State-run Container Corporation of India (CONCOR) has launched double-stack container train services between the National Capital Region (NCR) and Varnama near Baroda. This initiative aims to facilitate customers at Nhava Sheva near Mumbai, home to Jawaharlal Nehru Port (J N Port). On December 21, the first double-stack container train from Khatuwas and Dadri in NCR reached CONCOR’s Gati Shakti Multimodal Cargo Terminal (GCT) at Varnama, situated along the Western Dedicated Freight Corridor (WDFC). The train carried export cargo destined for J N Port, according to a statement from the state..

Next Story
Infrastructure Transport

Less than 10% of Rs 40 Billion State-aid for Shipbuilding Utilised

A government-sanctioned financial assistance program worth Rs 40 billion, intended to support local shipbuilders over a decade starting in April 2016, has seen minimal utilisation, with only Rs 3.85 billion—less than 10 per cent of the total fund—disbursed thus far. With 15 months remaining before the scheme concludes, its uptake has been limited. The financial aid applies to shipbuilding contracts signed between April 1, 2016, and March 31, 2026. According to a written response provided by Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal to the Rajya Sabha on December ..

Next Story
Infrastructure Transport

Civil Aviation Minister Opens New ATC Tower at Indore Airport

The Minister for Civil Aviation, Ram Mohan Naidu Kinjarapu, inaugurated the new Air Traffic Control (ATC) Tower-cum-technical block at Devi Ahilyabai Holkar International Airport in Indore, Madhya Pradesh. During the inauguration, the minister toured the facility, where ATC experts explained various technical aspects of tracking and coordinating flights from the newly constructed tower. In addition to the ATC tower, the airport has also introduced a zero-waste plant. The union minister confirmed that this initiative aligns with the government’s commitment to sustainability. Minister Ki..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000