Hindustan Times - Almost 5 lakh housing units stalled across 44 cities, Greater Noida tops the list: PropEquity
Almost 2000 under construction housing projects totalling over 5 lakh units across 44 cities have been stalled on account of financial mismanagement by real estate developers and lack of execution capabilities, an analysis by data analytic firm PropEquity showed on August 15.
Greater Noida, among tier I cities, saw the highest proportion of stalled units at 17% (74,645 units in 167 projects), followed by Thane and Gurugram with 13% (57,520 units in 186 projects) and 12% (52,509 units in 158 projects) respectively. Mumbai has the maximum number of 234 stalled projects having 37,883 units followed by Bengaluru with 225 projects comprising 39,908 units and Thane with 186 projects.
