Construction of over six lakh homes, valued at more than ₹5 lakh crore, is either fully stuck or delayed across seven Indian cities as of mid-2021, as per a report by a realty consultant.
These units are in projects in seven cities, which were unveiled on or before 2014, the report by Anarock Property Consultants said.
The report classified 1.74 lakh homes, valued at ₹1.40 lakh crore, as ‘totally stuck’ and added that two-thirds of these units are priced below ₹80 lakh.
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It said the government's Special Window for Affordable and Mid-Income Housing (SWAMIH) fund has come to the rescue of several projects but did not specify the exact help tendered by the scheme.
Delhi-National Capital Region leads the chart with 1.13 lakh units in totally stalled projects having a value of ₹86,463 crore, followed by Mumbai Metropolitan Region with 41,730 units worth ₹42,417 crore, it said.
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The report said in southern cities, housing projects are mostly on track, which is evident through the data.