Real Estate: 3.85 lakh houses will be ready this year, it is one lakh more than last year

The housing sector strengthened significantly in the second and third waves of the Kovid epidemic. Last year, 2.78 lakh houses were completed in 7 major cities of the country. At the same time, the work of a record 3.85 lakh houses is estimated to be completed in 2022. In comparison to this, 2.14 houses were ready in 2020. According to a report by real estate consultancy firm Anarock, 30% more houses were completed in 2021 as compared to 2020.

This year 38.5% of the new houses are expected to be completed as compared to 2021. Comparing with the figures of 2020, this year there will be about 80% growth in this case. According to experts, the completion of more housing projects is an indication that the capital crunch in the industry is going away. The National Capital Region (NCR) has the highest number of 86,590 houses completed last year.

Most under construction houses in Mumbai
According to the report, the number of ready houses is estimated to increase year after year in most of the major cities of the country. Currently, Mumbai has the highest number of under-construction houses, but in such a project, the maximum work of 36% will be completed in Chennai.

Most of the houses will be ready on time
This year most of the under-construction houses will be completed on time. The developers are looking to complete the projects which are currently underway before the new launch. Anuj Puri, Chairman, Anarock Group