A large number of housing projects being developed in the national capital region, Mumbai and Bangalore are facing significant delays due to the paucity of funds and lack of demand, according to property research firm PropEquity.
The study, which surveyed 1,920 projects launched during January 2007-June 2009 in these three regions, with expected delivery by January 2012, shows that “massive 45 per cent of all projects surveyed are still under construction and are facing significant execution delays”.