Over 3.85 lakh homes to complete in 2022

Hyderabad: Over 3.85 lakh homes across the top seven cities in India are about to complete duringthis year, as per a latest report. In Hyderabad, over 1.03 lakh units are under construction, of which 16 per cent will complete in 2022, 16 per cent in 2023, 15 per cent in 2024, and 53 per cent beyond 2024. As most launches in the city were happened in the last two years, the completion timeline for more than half is beyond 2024, according toa study by real estate services company Anarock Group.

Anuj Puri, Chairman – Anarock Group, says, "Our data also indicates that 3.85 lakh units are scheduled to be completed across the top 7 cities in 2022. Given that the construction activity across most cities was, and will hopefully remain, least impacted during the ongoing third wave, most completions in 2022 may be as per schedule. Certainly, developers are committed to complete previously launched projects before launching new ones." Delhi-NCR may see maximum completions in 2022 - as many as 4.22 lakh units are under various stages of construction in Delhi-NCR. Of this, 29 per cent is expected to complete in 2022, while 34 per cent in 2023, 18 per cent in 2024, and another 18 per cent beyond 2024. In MMR, 4.26 lakh units are under construction, of which 17 per cent will get completed in 2022, 24 per cent in 2023, 20 per cent in 2024, and 39 per cent beyond 2024.

Pune has 2.39 lakh units under construction, of which 31 per cent will complete in 2022, 27 per cent in 2023, 18 per cent in 2024, and 24 per cent beyond 2024. In Bengaluru, 1.92 lakh units are under construction, of which 29 per cent is slated to complete by 2022, 28 per cent in 2023, 19 per cent in 2024, and 24 per cent beyond 2024.