Construction projects delayed by 45percent!
Delay! Delay in construction projects! All you can hear from the metro cities is the delay in construction projects from all over India.
Yes, it’s not a news just for the sake of it. However, the housing projects are getting delayed in a very large number which is intern taking Indian real estate into a roller-coaster ride.
Similar is the real estate scenario in cities like; Mumbai, National capital region (NCR) and Bangalore.
Well, traces for delay of realty projects are nothing but lack of funds high property rates lessening the property demands.
The recent real estate survey proved a major slump by 45 percent within these three major cities. Overall comparatively according to PropEquity, NCR has been marked as a worst performer wherein hardly 23 percent of the projects are completed.
Meanwhile, the Supreme Court was asked to cancel all the construction of residential flats in Noida Extension because of the farmers’ protest on land acquisitions.
In the overall report NCR takes a major credit of construction projects delayed by 45percent.
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Source: The Economic Times
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