NEW DELHI: Over 4.02 lakh homes were completed in the top seven cities i.e. Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune in 2022, 44% higher than in 2021, when approximately 2.79 lakh homes were completed, according to recent data by ANAROCK.
Of the total completed homes in 2022, the highest were in MMR – about 1,26,720 units, almost 80% more than in 2021, when approximately 70,500 units were completed. It was followed by NCR with over 86,300 units completions and Pune with 84,200 units.
Bengaluru, Hyderabad, & Chennai together completed approximately 81,580 units in 2022. Kolkata saw approximately 23,190 units completed in 2022, against 11,620 units in 2021.
“Over 5.44 lakh units are scheduled to be completed across the top 7 cities in 2023. Construction activity was, and will hopefully remain, least impacted even if the pandemic resurfaces, so most completions in 2023 may be as per schedule. Certainly, developers are committed to completing previously launched projects before launching new ones,” said Anuj Puri, chairman, ANAROCK Group.
Approx. 5.44 lakh units are lined up for completion in 2023 across the top seven cities, if construction goes as per schedule. NCR is expected see highest completions of approximately 1.67 lakh units followed by MMR where about 1,32,900 units are expected to be ready by year-end.
According to the company, 2023 is poised to be another rocking year as long as construction proceeds as per timeliness and no major headwinds obstruct it. If construction proceeds unhampered and as per schedule, NCR is likely to see the maximum completions in the year.
Pune has about 94,280 units scheduled to be completed while in Bengaluru, approximately 73,470 units are expected to see completion in 2023. Hyderabad has about 25,120 units scheduled for completion, while in Kolkata some 33,040 units are lined up to be completed during the year. Chennai has the lowest stock with approximately 18,550 units scheduled to be completed in 2023.
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