Mumbai: Around 4.8 lakh apartments in the top seven Indian cities were stuck in various development stages over the past decade, until the end of May 2022. These are collectively worth Rs 4.48 lakh crore.
Out of this, more than 1.28 lakh housing units are from the Mumbai Metropolitan Area (MMR), worth Rs 1.84 lakh crore.
The findings are part of a national study on delayed homes published by Anarock Property Consultants.
As per the survey, the NCR and MMR collectively account for 77 percent of the delayed projects.
In December 2021, the Mumbai Metropolitan Region (MMR) had about 1.34 lakh delayed units worth Rs 1.91 lakh crore. Since then, however, 5,300 houses have been built.
"Despite the rough pandemic ride and construction costs further inflated by the Russia-Ukraine conflict, the top seven cities have further reduced their burden of delayed homes. As many as 36,830 languishing houses were completed in these cities between January and May 2022," the report said.
