The Existing and the Forgotten ; New Residential Projects Are Being Launched by Real Estate Developers Across the Country Even As Existing Ones Are Some Distance From Their Scheduled Completion.

Summary

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Real estate developers may or may not have sighted green shoots but they are certainly citing that as the reason for the burst of new project launches in the residential segment. Of course, given the current rage, most of these are in the affordable segment depending again on what one's affordability quotient is priced in the sub-Rs 40 lakh range. Developers, for their part, are promising possession within a two- to threeyear period from launch of construction which, going by their recent record, may not inspire confidence.

"I don't think most of the earlier projects which got delayed were due to non-absorption most developers were over optimistic about their timelines for completion, not factoring in the delays in getting licences and clearances from local civic authorities, observes Anuj Puri, Chairman and Country Head, Jones Lang LaSalle Meghraj (JLLM).

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Extract

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The Existing and the Forgotten ; New Residential Projects Are Being Launched by Real Estate Developers Across the Country Even As Existing Ones Are Some Distance From Their Scheduled Completion.

That may be true. Omaxe 's The Forest on Surajkund Road in Delhi-NCR was stuck due to issues related to mining clearances for a couple of years after its launch and the company has only now begun construction of these super-luxury apartments. There were,...

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