Stalled Projects Impacting Housing Dreams Nationwide
In a troubling development for the Indian real estate market, over 1,600 housing projects have been stalled across the country, leaving more than 5 lakh families in limbo. This crisis has impacted a staggering 511,814 housing units, highlighting a significant issue in the sector.
Breakdown of Stalled Projects Across Major Cities
Tier I Cities:
- Greater Noida: 74,645 units
- Gurugram: 158 projects, 52,509 units
- Noida: 103 projects, 41,438 units
- Ghaziabad: 50 projects, 15,278 units
- Faridabad: 16 projects, 7,060 units
- New Delhi: 1 project, 900 units
- Mumbai: 234 projects, 37,883 units
- Navi Mumbai: 125 projects, 28,466 units
- Thane: 186 projects, 57,520 units
- Pune: 172 projects, 24,129 units
- Bengaluru: 225 projects, 39,908 units
- Kolkata: 82 projects, 24,174 units
- Chennai: 92 projects, 21,867 units
- Hyderabad: 25 projects, 6,169 units
Total for Tier I Cities:
- Projects: 1,573
- Units: 468,035
Tier II Cities:
- Bhiwadi: 13,393 units
- Lucknow: 13,024 units
- Jaipur: 9,862 units
- Bhopal: 7,500 units
Total for Tier II Cities:
- Projects: 109
- Units: 43,779
Grand Total Nationwide:
- Projects: 1,682
- Units: 511,814
The data, sourced from PropEquity, underscores the urgent need for intervention to address the stalled projects and help restore progress in the housing sector.
Also Read: MHADA to Host Webinar on August 19th to Guide Applicants for Mumbai Housing Lottery
