Over 4.22 lakh houses are scheduled to be completed by 2021-finish across the major 7 cities, as per the most up-to-date ANAROCK information. Of this, NCR would see the maximum completions with a practically 28% share, followed by MMR with 26% and Pune with close to 18%. There could be some delay due to restrictions and disruptions in the provide chain amid the second COVID-19 wave.
Notably, 72% of the total houses to be delivered by the 2021-finish are currently sold out (just 28% stay unsold). If the fallout of the second COVID-19 wave does not influence building activity once again, the major 7 cities will have approx. 1.18 lakh houses out there for obtain by year-finish. Once-bitten-twice-shy homebuyers’ preference continues to be skewed towards prepared-to-move houses which mitigate building dangers and project delays.
In terms of price range categories – of more than 4.22 lakh houses to be delivered by 2021-finish, 40% (approx. 1.69 lakh units if completed) are in the reasonably priced segment priced <Rs 40 lakh. 35% (approx. 1.48 lakh units if completed) are in the mid-segment priced in between Rs 40 lakh and Rs 80 lakh.
Commenting on the very same, Anuj Puri, Chairman, ANAROCK Property Consultants, says, “The tally of 4.22 lakh homes scheduled for delivery across the top 7 cities by 2021-end must be viewed in context with the severe second wave of COVID-19 infections. All the top cities have been affected, and it is likely that a part of these project deliveries will be pushed to 2022. That said, many will see completion one way or the other. Amid the localized lockdowns and restrictions in most states, construction activities are permitted – albeit mandating COVID-19-specific protocols like adequate social distancing and sanitizing measures among in-situ construction workers.”
Also, most developers underwent a steep mastering curve because Lockdown 1.. Since prepared houses are in such higher demand, numerous players with projects due to attain completion in 2021 will contemplate this as a do-or-die deadline. “As far as housing sales is concerned, we are seeing a temporary slowdown due to the rampant spread of the coronavirus,” says Puri. “The market will quickly regain an even keel once the vaccination drive picks up pace and the health infrastructure crunch abate.”
City-sensible Expected Completions & Budget Range Cities
# NCR has 1,16,730 units scheduled for completion in 2021. Of this, at least 43% are in the reasonably priced segment, 39% in the mid segment, and 13% in premium segment priced inside Rs 80 lakh to Rs 1.5 crore. Just 5% is inside the luxury segment (>Rs 1.5 cr).
# In MMR, 1,09,940 units are scheduled for completion in the course of the year, of which 40% is in reasonably priced segment, 24% in the mid segment, 18% in premium, and 17% in the luxury category.
# Pune has 74,020 units scheduled for completion anytime in the course of 2021. Of this provide, at least 59% is in the reasonably priced segment, 30% in the mid segment, 9% in premium, and just 2% in the luxury segment.
# In Bengaluru, 56,650 units are scheduled for completion in 2021 of which just 11% is in reasonably priced segment, 56% is in the mid segment, 23% in the premium category and 9% in the luxury category.
# Kolkata has 27,470 units scheduled for completion in 2021. Of this, at least 65% is in the reasonably priced segment, 26% in the mid segment, 5% in premium, and just 3% in the luxury segment.
# In Chennai, 21,830 units are scheduled for completion in the course of the year. Of this, 34% is in the reasonably priced segment, 47% in the mid segment, 14% in the premium category,
and just 5% in the luxury category.
# Hyderabad has 15,860 units scheduled for completion in the course of 2021. Of this, just 6% is in the reasonably priced segment, 37% in the mid segment and 43% in the premium segment. At least 14% is in the luxury segment.