On-time delivery for home buyers remain a promise unfulfilled

Mar 15 2014, 13:39 IST
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The top 15 cities in the country witnessed a sharp jump in their completed real estate residential units in the last five months of calendar 2013. The top 15 cities in the country witnessed a sharp jump in their completed real estate residential units in the last five months of calendar 2013.
SummaryImproved sentiments are seeing a rise in new launches, but the impact is yet to be felt on completion of projects underway.

of the slew of new residential projects that have been launched in the first three months of calendar 2014.

Experts feel that the situation should improve with time. “There is no doubt that the supply is much more than the demand but the situation is not likely to aggravate further as we have bottomed out on that front,” said Zia.

So, while the real estate developers need to address the delivery aspect of the projects in order to serve their customers better, they also need to keep a close watch on the supply they add going forward. The customers, on the other hand, may expect the real estate regulatory bill to be passed soon so that they are have some protection against the bad practices, especially project delays, on the part of the developers.

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