Over 4.22 lakh homes scheduled to be completed by 2021-end may see some delay due to restrictions and disruptions because of the second Covid-19 wave, according to ANAROCK.

According to ANAROCK data, out of the 4.22 lakh homes across the tops even cities in the country, Delhi-NCR has a 28 per cent share, followed by Mumbai Metropolitan Region (MMR) with 26 per cent share and Pune with 18 per cent.

“Notably, 72 per cent of the total homes to be delivered by 2021-end are already sold out. If the fallout of the second Covid-19 wave does not impact construction activity again, the top seven cities will have nearly 1.18 lakh homes available for purchase by year-end. Once-bitten-twice-shy homebuyers' preference continues to be skewed towards ready-to-move homes which mitigate construction risks and project delays,” the property consultant firm said in a statement.

Anuj Puri, Chairman of ANAROCK Property Consultants said the tally of 4.22 lakh homes must, however, be viewed in context with the severe second wave of Covid-19 infections.

“All the top cities have been affected, and it is likely that a part of these project deliveries will be pushed to 2022. That said, many will see completion one way or the other. Amid the localized lockdowns and restrictions in most states, construction activities are permitted - albeit mandating Covid-19-specific protocols like adequate social distancing and sanitising measures among in-situ labourers,” he said.

Also, most developers underwent a steep learning curve since Lockdown 1.0. Since ready homes are in such high demand, many players with projects due to reach completion in 2021 will consider this as a do-or-die deadline.

"As far as housing sales is concerned, we are seeing a temporary slowdown due to the rampant spread of the coronavirus," Puri said. "The market will quickly regain an even keel once the vaccination drive picks up pace and the health infrastructure crunch abates.”