News Analysis

Delivery of 1.5M homes across 7 major cities is delayed by 14-30 months

Business Standard recently had an article about research compiled by PropEquity focusing on delays in project construction and possession. The report states a delay of 14-30 months can be observed across all major cities for projects that started 2008-2010. The report further states builders are now changing the completion clause in buyer agreements from 3 years to 5 years. Hopefully, this results in better “on-time possession” batting average but, part of me is afraid, it could result in even longer delays than we see today.

In the same news article, a real estate executive claims government approvals and litigation issues are contributors to project delays.

We, at PropertyChek, conduct legal due diligence of properties, where our authorized real estate lawyers check title and construction approvals.

Secure yourself, get peace of mind – order PropertyChek before buying a property.

Check out the news article here: http://www.business-standard.com/article/economy-policy/delivery-of-1-5-mn-houses-delayed-builders-face-buyers-ire-116012500435_1.html 

One Comment

Leave a Reply to Kavi Priya Cancel reply

Bitnami