4.22 lakh homes in top seven cities to be completed in 2021 may face delay.

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Of the total homes slated for delivery by 2021 year-end, at least 72 percent are already sold; At least 28 percent of the total units to be ready by year-end are in NCR, followed by 26 percent in MMR, and 18 percent in Pune.

 

As many as 4.22 lakh housing units are scheduled to be completed by 2021-end across the top seven cities. Of this, NCR would see the maximum completions with a nearly 28 percent share, followed by MMR with 26 percent and Pune with approximately 18 percent.

 

There could be some delay due to restrictions and disruptions in the supply chain amid the second COVID-19 wave’, the analysis said.

 

Notably, 72 percent of the total homes to be delivered by 2021-end are already sold out (just 28 percent remain unsold). If the fallout of the second COVID-19 wave does not impact construction activity again, the top 7 cities will have approximately 1.18 lakh homes available for purchase by year-end.

 

Once-bitten-twice-shy homebuyers' preference continues to be skewed towards ready-to-move homes which mitigate construction risks and project delays.

 

In terms of budget categories - of over 4.22 lakh homes to be delivered by 2021 end,40 percent are in the affordable segment priced less than Rs. 40 Lakh, and 35 percent arein the mid-segment priced between Rs. 40 Lakh and Rs. 80 Lakh.