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Business Standard
378 housing projects with 146,000 units stalled in 5 UP cities: PropEquity
Five major property markets in Uttar Pradesh, including Noida and Greater Noida, have 378 stalled housing projects, comprising nearly 1.46 lakh units, according to PropEquity. Real estate data analytic firm PropEquity data showed that as many as 378 housing projects comprising 1,45,880 units are stalled across Noida, Greater Noida, Ghaziabad, Lucknow and Agra in Uttar Pradesh. As per the data, Greater Noida has 167 stalled projects with 74,645 units. Noida has 103 stalled housing projects comprising 41,438 units, while Ghaziabad witnessing 50 stalled projects with 15,278 units. Noida, Greater Noida and Ghaziabad are important property markets in the Delhi-NCR. Lucknow -- the capital of Uttar Pradesh -- too has 48 stalled housing projects comprising 13,024 units. Agra property market has 10 stalled projects with only 1,495 units. Overall, PropEquity data showed that 1,981 residential projects are stalled across 42 cities, totalling 5.08 lakh units. Of these stalled projects, as
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Sun, Sep 8, 2024
The Economic Times
As many as 378 housing projects with 1.46 lakh units stalled in 5 UP cities: PropEquity
Five major property markets in Uttar Pradesh, including Noida and Greater Noida, have 378 stalled housing projects, affecting nearly 1.46 lakh units. PropEquity data reveals that cash-flow mismanagement and lack of execution capabilities are key reasons for these delays. PropEquity has launched 'PropAlert' to provide regular updates to homebuyers on construction progress.
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Sun, Sep 8, 2024
Business Standard
Nearly 2,000 housing projects stalled across 42 cities: PropEquity
Nearly 2,000 housing projects comprising 5.08 lakh units are stalled across 42 cities in the country, mainly due to financial mismanagement by developers and lack of execution capabilities, according to data analytic firm PropEquity. As per the PropEquity data, there are 1,981 residential projects that are stalled totalling 5.08 lakh units. Of these stalled projects, as many as 1,636 projects totalling 4,31,946 units are in 14 tier I cities, while 345 projects totalling 76,256 units are in 28 tier II cities. It also pointed out that the number of stalled units rose to 5,08,202 from 4,65,555 units in 2018. Samir Jasuja, Founder and CEO at PropEquity said, "The problem of stalled projects and the subsequent rise is due to the lack of execution capabilities of developers, cash-flow mismanagement and diversion of funds to buy new land banks or retire other loans." He stressed on the need to provide independent third-party audit services for homebuyers to empower them to make an informe
The Economic Times
Nearly 2,000 housing projects stalled across 42 cities comprising 5.08 lakh units: PropEquity
According to PropEquity, nearly 2,000 housing projects across 42 Indian cities have stalled, totaling 5.08 lakh units. Major factors include financial mismanagement and poor execution by developers. A significant number of these projects are in tier I and tier II cities. The government’s SWAMIH Fund has been addressing some of the backlog, aiming for better delivery.
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Thu, Aug 15, 2024
