Real estate developers in India’s top seven cities have significantly reduced project completion times, showcasing a remarkable improvement in efficiency. A recent report by Anarock, a leading real estate consultancy, reveals that average completion times for both small and large projects have decreased by 18-20% over the past decade.
Anarock’s analysis of projects launched and completed between 2010-2019 and 2014-H1 2024 indicates that smaller projects (fewer than 500 units) now take an average of four years to complete, down from 4.9 years in the 2010-19 period. Larger projects (more than 500 units) have also seen a significant reduction, with completion times dropping from 6.1 years to 4.9 years. The report attributes this improvement to stringent regulatory measures and the adoption of advanced construction technologies. An official from Anarock stated, “The stringent rules imposed on project delays by regulatory authorities have been a key factor in reducing completion times.”
Chennai emerged as the most efficient city, with the shortest completion times for both small and large projects. Kolkata, on the other hand, reported the longest completion times for large projects, while the Mumbai Metropolitan Region (MMR) and Delhi-NCR had the highest completion times for small projects. For projects launched and completed between 2014 and H1 2024, Chennai recorded an average completion time of 3.6 years for large projects and 3 years for small projects. In contrast, Kolkata’s builders took 5.7 years for large projects and 4.4 years for small ones.
In MMR, the average completion time was 4.7 years for small projects and 5.2 years for large projects. Pune reported an average of 4.3 years for small projects and 5.4 years for large ones. Delhi-NCR homebuyers waited an average of 4.7 years for small projects and 5.4 years for large ones. Hyderabad developers completed small projects in an average of 3.1 years and large projects in 4.2 years. In Bengaluru, the completion times were 3.5 years for small projects and 4.8 years for large ones over the past decade. The data highlights a significant reduction in completion time for both large and small projects across all seven cities, demonstrating a positive trend in the Indian real estate market.
