Homebuyers who booked flats in housing projects in the Noida-Greater Noida property market are worst affected, with over 1.65 lakh flats worth ₹1.18 lakh crore currently stalled or significantly delayed in these two cities, according to property consultant Anarock.
In its research, the consultant has taken only those housing projects that were launched in 2014 or before, across seven big property markets -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Hyderabad and Pune.
Expressing concern over the plight of customers whose investments are at stake, Forum for People's Collective Efforts' (FPCE), an apex body of homebuyers, president Abhay Upadhyay told PTI that the cause of the delay of each project should be ascertained and solutions must be found.
