Indian Economy News

3.85 lakh homes to be completed in 2022, led by Delhi-NCR

  • IBEF
  • February 22, 2022

According to property consultancy Anarock, about 3.85 lakh homes are expected to be completed across the top seven cities of India in 2022, up from 2.78 lakh units in 2021.
The largest property market in India, Delhi-National Capital Region (NCR), which has been affected hard by the real estate slump, is expected to witness the most completions in 2022. Approximately 29% of the 4.22 lakh units under development in Delhi-NCR are expected to be completed this year.

Despite the Covid-19 outbreak, more houses were completed in 2021 than in 2020 (2.14 lakh units). The National Capital Region (NCR) had the most constructed houses in 2021, with over 86,590 units, nearly 84% more than in 2020, when roughly 47,160 units were built.

Around 70,490 units were completed in the Mumbai Metropolitan Region (MMR) in 2021, compared to 54,720 units in 2020. 17% of the 4.26 lakh units under construction in MMR will be finished in 2022, 24% in 2023, 20% in 2024, and 39% after 2024.

In 2021, 46,090 units were completed in Pune, compared to 40,840 in 2020.
In 2021, 63,870 units were finished in Bengaluru, Hyderabad, and Chennai, compared to 59,730 in 2020. 
In 2021, about 11,620 houses were completed in Kolkata, compared to 11,920 units in 2020. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.