As many as 3.85 lakh housing units are expected to be completed in top seven cities of the country this year.
As many as 3.85 lakh housing units are expected to be completed in top seven cities of the country this year. Despite the second Covid-19 wave in first half of 2021, approximately 2.78 lakh housing units were completed across the top seven cities in the year, against over 2.14 lakh units in 2020, according to latest ANAROCK Research data.
Of the total completed homes in 2021, the maximum completions were in NCR with approx. 86,590 units. This was almost 84% more than in 2020 when approximately 47,160 units were completed.
According to Anarock data,
- In Mumbai Metropolitan Region (MMR), approx. 70,490 units were completed in 2021, against 54,720 units in 2020
- Pune had approx. 46,090 units completed in 2021, against 40,840 units in 2020
- Bengaluru, Hyderabad, and Chennai collectively witnessed approx. 63,870 units completed in 2021, against 59,730 units in 2020
- Kolkata witnessed over 11,620 units completed in 2021, against 11,920 units in 2020.
Commenting on the research findings, Anuj Puri, Chairman – ANAROCK Group, said, “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.”
Ready Supply in 2022
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, approx. 29% is expected to complete in 2022, approx. 34% in 2023, 18% in 2024, and 18% beyond 2024.
In MMR, approx. 4.26 lakh units are under construction, of which approx. 17% will get completed in 2022, 24% in 2023, 20% in 2024, and 39% beyond 2024
Pune has approx. 2.39 lakh units under construction, of which approx. 31% will complete in 2022, 27% in 2023, 18% in 2024, and 24% beyond 2024
In Bengaluru, approx. 1.92 lakh units are under construction, of which approx. 29% is slated to complete by 2022, 28% in 2023, approx. 19% in 2024, and 24% beyond 2024
In Hyderabad, approx. 1.03 lakh units are under construction, of which approx. 16% will complete in 2022, 16% in 2023, 15% in 2024, and 53% beyond 2024 (since most launches in the city were in the last two years, the completion timeline for more than half is beyond 2024)
In Kolkata, approx. 84,400 units are under construction, of which approx. 33% is slated to complete by 2022, approx. 29% in 2023, 20% in 2024, and 17% beyond 2024
Chennai has the least under-construction stock among the top 7 cities with approx. 48,120 units, of which approx. 36% is slated to complete by 2022, 29% in 2023, 17% in 2024, and 18% beyond 2024.
