5 lakh apartments up for possession in 2013
Five lakh homes will be ready for delivery in 2013, the highest in a single year.
New Delhi: For those waiting relentlessly to get possession of their new house, here’s a good news. A business daily has reported that nearly five lakh apartments across India will be up for possession in 2013.
Citing surveys conducted by property research firms, the paper said that close to 4.5-5 lakh homes will be ready for delivery in 2013, the highest in a single year.
The delivery will include a few housing projects that were launched in 2006, 2007 and 2008. These projects were delayed for a variety of reasons like liquidity crunch, farmer agitation, infrastructure crisis and government nod.
A bulk of housing projects covering the Delhi-National Capital Region (NCR) region (particularly Noida-Greater Noida expressway and Gurgaon) will be completed and delivered this year, the paper further said.
NCR will cover the highest number of housing delivery (1,41,921 units) followed by Mumbai and adjoining areas that constitute the Mumbai Metropolitan Region (1,21,992 units).
Property analysts also believe that owing to the delivery of these projects, the realty market might also see some price correction.
24,452 houses will be delivered in Ahmedabad while 58,082 houses are up for possession in Bangalore, 51592 in Chennai, 38,659 in Hyderabad, 18,248 in Kolkata and 62,419 in Pune, the paper has reported.