Coronavirus: Anarock says construction work across 7 cities to be delayed, housing sales to take hit

Housing brokerage firm Anarock on Tuesday said housing sales will be impacted and completion of ongoing real estate projects will be delayed due to the lockdown across the country in view of spread of coronavirus disease.

The consultant said that more than 15.62 lakh units (launched between 2013 till 2019) are under construction in the top 7 cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Kolkata, Chennai, Bengaluru, Hyderabad and Pune.

Of this, MMR & NCR together comprise of 57 per cent or about 8.90 lakh units.

With most top cities announcing a lockdown till at least March 31, homebuyers must brace themselves for project delays, Anarock said.

Prashant Thakur, Director & Head Research, Anarock said,"Another fallout of the lockdown is that many key markets will have almost zero construction activity at the project sites. This will further strain several developers' financial health."