Construction Ban in Delhi-NCR: With the start of the month of October, the air in Delhi has started turning toxic again. In such a situation, the government is continuously taking big steps even before the pollution reaches its peak. In order to curb air pollution in Delhi, the Commission for Air Quality Management (CAQM) has decided to ban the construction of buildings in the area of Delhi and NCR. After this decision of the Commission for Air Quality Management, the real estate sector is going to have a very bad effect.
According to media reports, construction work is currently going on for a total of 5.68 lakh housing units in the Delhi-NCR region. Out of this, the location of 4% housing units is very prime. In such a situation, after the ban on construction, there can be a very bad effect on the real estate sector.
Best average time of Delhi-NCR project
Let us tell you that the average time of construction of any housing unit in Delhi-NCR is the best among the rest of the top-7 cities of the country. This figure is based on the construction data between 2010 and 2022. In Delhi-NCR, projects smaller than 500 units take an average of 6 to 6.5 years to complete.
On the other hand, large projects with more than 500 units take about 7.5 to 8 years to complete. In the area of Delhi-NCR, maximum construction is done in Yamuna Expressway, New Gurugram, Noida Expressway, Central Noida, Sector-150 Noida, Greater Faridabad Rajnagar Extension Ghaziabad.
What will be the effect on the price
According to the report published in Zee Business, Prashant Thakur, Senior Director and Head of Research, Anarock Group said that in our research it has been found that construction work of about 5.68 lakh housing units is going on in Delhi and NCR region. Even after the construction ban, the possibility of registering any increase in the prices of these housing projects is negligible. The reason for this is that there is a ban on construction work from time to time, but the chances of this affecting the prices are very less. Along with this, he said that if this ban remains in place for a long time, then it may take 3 to 4 months to complete the projects.