“NCR has contributed to lot of that delay... the number of projects here very large compared to MMR and BMR,” Samir Jasuja, chief executive officer at PropEquity said. “Another reason is that post-subprime crisis, several projects were announced, but the developers did not have the execution bandwidth. In several cases they used funds raised from one project to acquire more land.”
Only 23% projects were completed in NCR by January 2012. In MMR 61% were completed, and in BMR 66%. In the luxury segment, 72% projects in NCR, 36% in MMR and 45% in BMR were lagging.