5 main property markets in Uttar Pradesh, together with Noida and Larger Noida, have 378 stalled housing tasks, comprising practically 1.46 lakh items, in line with PropEquity.Actual property information analytic agency PropEquity information confirmed that as many as 378 housing tasks comprising 1,45,880 items are stalled throughout Noida, Larger Noida, Ghaziabad, Lucknow and Agra in Uttar Pradesh.
As per the info, Larger Noida has 167 stalled tasks with 74,645 items.
Noida has 103 stalled housing tasks comprising 41,438 items, whereas Ghaziabad witnessing 50 stalled tasks with 15,278 items.
Noida, Larger Noida and Ghaziabad are necessary property markets within the Delhi-NCR.
Lucknow — the capital of Uttar Pradesh — too has 48 stalled housing tasks comprising 13,024 items.
Agra property market has 10 stalled tasks with just one,495 items.
Total, PropEquity information confirmed that 1,981 residential tasks are stalled throughout 42 cities, totalling 5.08 lakh items.
Of those stalled tasks, as many as 1,636 tasks totalling 4,31,946 items are in 14 tier I cities, whereas 345 tasks with 76,256 items are in 28 tier II cities.
PropEquity founder and CEO Samir Jasuja identified that the issue of stalled tasks is as a result of lack of execution capabilities of builders, cash-flow mismanagement and diversion of funds to purchase new land banks or retire different loans.
PE Analytics Ltd, which is listed on the NSE inventory trade, owns and operates PropEquity, which covers over 1.7 lakh tasks of greater than 57,000 builders throughout 44 cities in India.
Lately, PropEquity has began a brand new enterprise vertical ‘PropAlert’ to supply common updates to homebuyers in regards to the progress of building actions in housing tasks.
By this new service, PropEquity seeks to safeguard the pursuits of homebuyers after buying under-construction properties.
On this new vertical, PropEquity expects to generate a income of Rs 12 crore and achieve subscribers upwards of 10,000 by September 2025.
PropEquity has posted a 29 per cent progress in consolidated revenues at Rs 12.06 crore within the April-June interval of this fiscal towards Rs 9.3 crore in the identical interval final yr.