82.5% developers of NCR planning to launch new projects in 2022: Report

82.5% developers of NCR are planning to launch new projects in the year 2022, a study by CREDAI NCR showed.

As per the study, 50 percent of developers prefer to launch projects in the affordably segment in the price bracket of Rs 3000-5000 per sq.ft., followed by 33 percent in the mid-luxury segment category of Rs. 6000-8000 per sq. ft., reflecting the continued strong demand from end-users after Covid-19 and lack of inventory in the market.

Manoj Gaur, CREDAI NCR’s President said, “These kinds of studies and surveys help us to understand the challenges being faced by our members so as to take-up related issues with the relevant state governments. The study clears the confusion on future of NCR’s real estate m, especially post recovery from pandemic and after recent hike in interest rates.”


The survey highlighted that 76% developers have preferred residential as the launch category, followed by office spaces while 68% developers found no impact of increased lending rates on housing demand.


“The online process of giving approval to real estate projects is delaying the projects. The government should allow manual intervention as well and focus on easing the proceeds for builders,” said Gaurav Gupta, general secretary, CREDAI-NCR.

Further, 30% developers suggested that agreement to sell should carry an escalation clause if in case the prices of raw materials increase above certain percentage/ limits in order to ensure the project delivery and its viability.

Moreover, to delve on major concerns of NCR real estate, the study reveals that delays in approvals is still the biggest bottleneck for the real estate sector.

35% of the developers confirmed that approvals are still not regularized while 32% developers feel the absence of the regulatory framework to keep a check on prices of raw material.

Additionally, 58% developers face an yearly disruption in construction work due to Pollution or other regulators' orders, lastly 56% feel that red tapism in routine works result in inordinate delay.