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Average time to complete large residental projects dip 20 percent in last decade

Jul 15 2024

Average time to complete large residental projects dip 20 percent in last decade

Over the last decade (2014–H1 2024), the average waiting period for homebuyers to take possession of large under-construction projects in the top seven cities has reduced to 4.9 years, down from 6.1 years in the 2010–2019 period.

For large projects launched and completed between 2014 and H1 2024, the average completion time was lowest in Chennai at 3.6 years, while Hyderabad and Bangalore recorded 4.2 years and 4.8 years, respectively.

In the National Capital Region (NCR), factors such as extreme weather and statutory restrictions on construction during high pollution levels have affected project timelines. Gradual reduction in developer leverage and stronger financial conditions have allowed builders to focus more on execution.

In Kolkata, large projects completed during this period took the longest time, averaging 5.7 years. In the Mumbai Metropolitan Region (MMR), small projects took around 4.7 years, while large projects required 5.2 years on average.

In Pune, small projects averaged 4.3 years, and large projects 5.4 years. In Chennai and Hyderabad, small projects were completed in 3 years and 3.1 years, while large projects took 3.6 years and 4.2 years, respectively, small projects averaged 3.5 years and large projects 4.8 years.

 


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