Realtors say up to 2-yr delay likely in delivery of flats in

Realtors say up to 2-yr delay likely in delivery of flats in Delhi-NCR | Noida News


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NOIDA: The completion timelines of flats in various stages of construction in Delhi-NCR could stretch up to two years, realtors’ associations Naredco and Credai have said, an impact primarily of two successive waves of the pandemic and the financial and work force disruptions caused by it.
This will also make the wait for delayed flats frustratingly longer. According to a survey by real estate consultants Anarock, there are over 3 lakh such flats in the main cities of Delhi-NCR. Flats are considered delayed or stuck if they were launched on or before 2014. Constructions that began after that period are ‘ongoing’. Delivery timelines of ‘ongoing’ projects will also be hit. Completion deadlines of over three lakh flats in NCR may be hit by a two-year delay because of two waves of Covid-19. Realtors’ bodies Naredco and Credai claim at least a two-year setback has to be accounted for by buyers and regulatory authorities. According to Anarock, almost 50% of the delayed flats are in Greater Noida.

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