Despite the cataclysmic second Covid-19 wave in H1 2021, approx. 2.78 lakh units were completed across the top 7 cities in 2021, against over 2.14 lakh units in 2020, according to latest ANAROCK Research data. Of the total completed homes in 2021, the maximum completions were in NCR with approx. 86,590 units – almost 84% more than in 2020 when approx. 47,160 units were completed.
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In MMR, approx. 70,490 units got completed in 2021, against 54,720 units in 2020
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Pune saw approx. 46,090 units completed in 2021, against 40,840 units in 2020
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Bengaluru, Hyderabad, and Chennai collectively saw approx. 63,870 units completed in 2021, against 59,730 units in 2020
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Kolkata saw over 11,620 units completed in 2021, against 11,920 units in 2020.
Anuj Puri, Chairman — ANAROCK Group, says, “Our data also indicates that 3.85 lakh units are scheduled to be completed across the top 7 cities in 2022. Given that the construction activity across most cities was, and will hopefully remain, least impacted during the ongoing third wave, most completions in 2022 may be as per schedule. Certainly, developers are committed to complete previously launched projects before launching new ones.”
Ready Supply in 2022 & Beyond
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Delhi-NCR may see maximum completions in 2022 – as many as 4.22 lakh units are under various stages of construction in Delhi-NCR. Of this, approx. 29% is expected to complete in 2022, approx. 34% in 2023, 18% in 2024, and 18% beyond 2024.
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In MMR, approx. 4.26 lakh units are under construction, of which approx. 17% will get completed in 2022, 24% in 2023, 20% in 2024, and 39% beyond 2024
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Pune has approx. 2.39 lakh units under construction, of which approx. 31% will complete in 2022, 27% in 2023, 18% in 2024, and 24% beyond 2024
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In Bengaluru, approx. 1.92 lakh units are under construction, of which approx. 29% is slated to complete by 2022, 28% in 2023, approx. 19% in 2024, and 24% beyond 2024
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In Hyderabad, approx. 1.03 lakh units are under construction, of which approx. 16% will complete in 2022, 16% in 2023, 15% in 2024, and 53% beyond 2024 (since most launches in the city were in the last two years, the completion timeline for more than half is beyond 2024)
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In Kolkata, approx. 84,400 units are under construction, of which approx. 33% is slated to complete by 2022, approx. 29% in 2023, 20% in 2024, and 17% beyond 2024
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Chennai has the least under-construction stock among the top 7 cities with approx. 48,120 units, of which approx. 36% is slated to complete by 2022, 29% in 2023, 17% in 2024, and 18% beyond 2024.
The author of this article is Anuj Puri, Chairman — ANAROCK Group
The views and opinions expressed are not of IIFL Capital Services, indiainfoline.com
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