nationwide There is good news for thousands of people who are hoping to book and get their houses in India. This year, property Developers are likely to hand over keys to houses valued at 5.58 lakhs to their owners. According to the real estate consultancy Anarock, Construction companies have accelerated the pace of construction. Due to this, property developers can complete the construction of 5.58 lakh houses in the country’s seven major cities by 2023. According to Enrock data, 5,57,900 houses are scheduled to be built by 2023. The construction of 4, 02,000 houses were to be completed in the last calendar year. However, it is not known whether this goal has been met or not.

Because of this, the number of move-in ready flats will increase this year.

Anarock said there are several factors behind the higher number of homes completed this year. These include the related RERA law, better cash flow amid rising home sales, the use of the latest technology in construction activities, and increased lending from financial institutions. The consultant pointed out that the builders are trying to eliminate the delay in the completion of the projects, since it generates cost overruns. Anarock Vice President Santosh Kumar said: “According to estimates, around 5.6 lakh homes will be completed by 2023 in the seven major cities. This is 39 percent more than last year.

Delhi-NCR homebuyers to get maximum benefit

According to the data, Delhi-NCR will see the most number of houses built this year, followed by the Mumbai Metropolitan Region (MMR). Delhi-NCR is likely to see the construction completion of 1,70,100 houses this year compared to an estimated 86,300 houses last year. 1,31,400 houses are expected to be built in MMR, up from 1,26,700 units in 2022. Construction of 98,400 houses could be completed in Pune, up from 84,200 units to be built last year. Bengaluru is likely to see construction completion of 80,100 homes this year up from an estimated 48,700 units last year.

Developers driven by increased sales

Antriksh India CMD Rakesh Yadav He said developers are optimistic about the increase in home sales. Because of this, the developers want to complete the work on the project as soon as possible and hand over the keys to the house to the buyers. Along with this, the easy availability of labor, weather conditions, authority and initiatives taken by the government in recent times also affect. The construction of the project has been accelerated. The timely completion of the project will benefit both developers and homebuyers. Timely completion of the project will lower the cost, while homebuyers will gain a confidence boost. This is expected to further increase demand in this sector.

Construction speed is also increasing in other metropolitan cities

Construction of 36,700 homes is likely to be completed in Kolkata this year, up from an estimated 23,200 units built last year. Hyderabad is likely to see the completion of 23,800 homes this year up from 11,700 units last year. Construction of 17,400 homes in Chennai is likely to be completed this year, compared to 21,200 units built last year. Bhasha Anurag Ajay Ajay 2105 1459 Delhi

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