Noida: The amount of time the completion of the flat in various stages of construction in Delhi-NCR can stretch up to two years, the Association of Naredco and Credai sales agents said, the impact was mainly from two consecutive waves of pandemics and financial disorders and labor caused by it.
This will also make a longer wait wait longer.
According to the survey by Anarock Real Estate Consultants, there were more than 3 lakh flats in the main cities of Delhi-NCR.
Flat is considered delayed or trapped if it was launched on or before 2014.
Construction that began after that period was ‘on’.
The timing of the ‘sustainable’ project delivery will also be beaten.
The deadline for completion of more than three lakh flats in NCR can be beaten by a two-year delay due to two Covid-19 waves.
The body of Realtors Naredco and Credai claims at least a two-year setback must be accounted for by the buyer and supervisory authority.
According to Anarock, almost 50% of flats are delayed in larger noida.
Real estate companies have quoted labor and supply chain problems during a pandemic as a reason for delay.
The lack of cash flow also affects work.
RK Arora, CMD from Supertech and President Naredco, UP, said, “Since March 2020, there is very slow progress in the implementation of projects due to lack of labor, scarcity of raw materials and ally issues.
The shipping timeline will be postponed about two years.
To speed up construction …, there is a need for the government to announce aid package and provide last-mile funds through the bank.
“PANKAJ Bajaj, President of Credai (NCR), Gema Arora.
“Real estate has been among the worst sectors and most projects tend to be delayed two years.
We look forward to some relaxation to help us install,” he said.
Anarock data said there were around 3.29 lakh units launched in 2014 or before in NCR which was delayed or jammed.
“Pandemic is one of the reasons.
They will all be delivered on 202111.
Greater Noida has 50% of these units; Noida has around 16%, Gurgaon has around 12% and Ghaziabad 10%.
The remaining 12% is in Delhi, Bhiwadi and Faridabad, “said Prashant Thakur, head of research in Anarock.
Rera member Balvinder Kumar said the solution was thought.
“We have provided a six-month relaxation for validity or registration to the builder last year when the pandemic struck.
With existing rules, all registrations can apply for a year from the expiration date.
We have decided to provide an additional six-month validity extension to the builder registration.”