gurugramnoida the burgeoning trouble with the real estate industry in the national capital region ncr can now be gauged in numbers of the 56 lakh residential units stuck across seven cities in india valued at rs 451750 crore over two lakh residential units are delayed in the ncr itselfof this 104 lakh units 50 are in greater noida valued at rs 45039 crore followed by noida 44082 rs 38511 crore ghaziabad 24728 rs 9664 crore gurugram 23287 rs 25086 crore bhiwadi 5477 rs 1415 crore delhi 4102 rs 9930 crore and faridabad 3612 rs 1815 crore these units which were launched in 2013 or before have been left in limbo leading to huge mental stress and financial burden on the homebuyersanuj puri chairman of mumbaibased real estate research company anarock who collated the data said the new government will have a mammoth task at hand lakhs of homebuyers are left in the lurch by their builders mostly in projects that dont fall under the regulatory mechanism reras ambit as these were launched years before rera was implemented that has left homebuyers with no option but to approach courts which is a tedious task he also said delayed projects have severely weakened faith in underconstruction properties and that reviving buyers trust is a herculean task if buyers stop purchasing underconstruction properties builders will have a far more challenging time getting funds from external sourcesthe report claims ncr tops the list of cities with maximum number of delayed projects over 210 lakh units and maximum amount of buyers investment riding on it its followed by mumbai metropolitan region mmr pune and bangaloremmr and ncr together hold 72 share of delayed projects worth rs 349010 crore south indian cities collectively hold a mere 10 of delays with chennai having fewest numbers 8650 units worth rs 5620 crore even bangalore is better off than pune with less than half of the latters delayed stock of 86700 units the report stateschairman of supertech r k arora said the government should work towards clearing roadblocks faced by developers the government has done a lot for buyers by reducing gst rates etc but developers are facing problems in financing to complete projects the crisis is due to multiple factors including prolonged land disputes and uncertainties arising from reforms such as demonetisation gst and rera he said he added liquidity problems are accentuated by last years rbi circular which stopped banks and financial institutions from funding the housing sector we urge the government to look into the liquidity crisis keeping in mind its goal of housing for all by 2022 prashant solomon md of developer chintels said most affected projects dont fall under rera all projects that received clearances after july 2017 needed to register with rera making it better for both buyer and developer he also said strictures like insolvency and bankruptcy code strict monitoring of projects and their timelines etc has improved safeguarding of investments for both buyers and developers however government needs to intervene