Housing Project Delays In Noida, Greater Noida: Over 74,000 Units Affected, Says Report

A total of 378 housing projects, encompassing 1.46 lakh units, are stalled across Uttar Pradesh's key markets, including Noida and Greater Noida, PropEquity reports. The delays are attributed to poor cash flow management and fund diversion. PropEquity's new PropAlert service aims to update homebuyers on project progress.
Housing Project

Housing Project (Image Source: iStockphoto)

A total of 378 housing projects, comprising nearly 1.46 lakh units, are currently stalled across five major property markets in Uttar Pradesh, including Noida and Greater Noida, according to real estate analytics firm PropEquity. These cities, which also include Ghaziabad, Lucknow, and Agra, face significant delays in their residential construction projects.
Data from PropEquity reveals that Greater Noida is the most affected, with 167 stalled projects, amounting to 74,645 units. Noida follows closely with 103 projects, involving 41,438 units. Ghaziabad has 50 stalled housing projects, with 15,278 units left incomplete, while Lucknow faces delays in 48 projects, comprising 13,024 units. Agra is the least affected, with 10 projects involving 1,495 units currently stalled.
Noida, Greater Noida, and Ghaziabad are key real estate hubs within the Delhi-NCR region, and the scale of stalled projects in these areas highlights the challenges plaguing the sector.
According to PropEquity CEO Samir Jasuja, the issue of stalled projects stems from developers' inability to manage cash flows, poor execution capabilities, and diversion of funds to acquire new land or repay existing loans.
In addition to these findings, PropEquity also reported that 1,981 residential projects are stalled across 42 cities nationwide, affecting a total of 5.08 lakh units. Of these, 1,636 projects involving 4.31 lakh units are located in tier I cities, while 345 projects with 76,256 units are in tier II cities.
To address this growing concern, PropEquity has introduced a new business vertical, PropAlert, designed to provide homebuyers with regular updates on the construction progress of housing projects. The initiative aims to protect buyers of under-construction properties. PropEquity expects to generate Rs 12 crore in revenue and attract over 10,000 subscribers to PropAlert by September 2025.
The company also reported a 29% rise in consolidated revenues, earning Rs 12.06 crore during the April-June period of this fiscal year.
(With Inputs From PTI Agency)
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Arjit Saxena author

Arjit Saxena is a Senior Correspondent at ET NOW and Times NOW Business Section. He writes on Stock Market, Economy, Startups, Corporates, and Persona...View More

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