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Houses worth Rs 3 lakh crore face construction delays: Report
An overhang of 4.65 lakh units of delayed housing projects across India that were significantly behind delivery deadlines and with daunting construction delays threaten the green shoots of recovery in select markets for the real estate sector, a recent report by PropEquity found. The total value of projects facing construction delays added up to Rs 3.3 lakh crore or over $47 billion, according to the study.
However, industry experts, National Real Estate Development Council (Naredco) and Confederation of Real Estate Developers Association (CREDAI) strongly disagreed with the figures.
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