Residential projects delayed by 4 years!
How annoyed would be the property buyers when they were promised to get their houses within two years from the time of booking.
Similar is the case in the national capital region Delhi NCR.
One of the residential projects commenced during year 2005-06 has not yet been completed which was supposed to be handed over to the property buyers maximum by 2008-09.
In the context of same a research done by property consultancy Jones Lang LaSalle say that in NCR alone, around 63 large residential projects and 40,000 apartments have been delayed for more than four years.
Many big builders like; DLF (Belaire), Ambience Group, BPTP and AEZ, Parsvnath Developers have failed to deliver the residential projects on time!
Hasty and unplanned launches, issues of land acquisition, interest payout, rising cost of construction; reasons are plenty for all these projects being delayed!
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Source: The Economic Times
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