Rs 5,620-crore housing units delayed in Chennai: Report

  • | Tuesday | 17th September, 2019

C Shivakumar ByExpress News ServiceCHENNAI: Chennai has 8,650 delayed housing units worth around Rs 5,620 crore, the least among the top seven cities, according to a report by Anarock Property Consultants. The report, ‘Chennai: Driven by Diversified Economic Base, Reinforcing the Future,’ which was released at a recent conclave, states that most of these projects were launched in 2013 or before and none were stalled or cancelled. Though supply of housing units dropped significantly, absorption surpassed new supply resulting in reduction in unsold inventory in 2017. More than 72,000 units have been launched since 2015, out of which 38 per cent were in the budget range of Rs 40 lakh to Rs 80 lakh, followed by 36 per cent in less than Rs 40 lakh budget segment. However, the share of units costing less than Rs 40 lakh in overall supply increased to more than 40 per cent over time.

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