Property consultant Jones Lang LaSalle (JLL) India says that real estate companies in India have not been able to deliver over 25 per cent of their housing projects on time while developers in the national capital region (NCR) Delhi are worst performers.
The company said in a statement that delayed delivery of residential projects has become a significant issue on the real estate market, leading to high levels of ire among customers.
Due to delay in project delivery, inventory levels across India have risen significantly, the consultant said.
The company noted that there were a number of reasons behind the project delays, including poor project management, lack of commitment and capital on the part of developers to complete projects, and delay in the regulatory approvals.