Streamlining Construction: How Top 7 Cities in India Reduced Project Completion Time by 20%
Real Estate, Realty, Housing, Construction Technology, Project Timelines
Real EstateConstruction TechnologyProject TimelinesReraHousingReal EstateJul 14, 2024
The report analyzed projects launched and completed between 2010-2019 and 2014-H1 2024 across the top seven cities, including Chennai, Kolkata, Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, Hyderabad, and Bengaluru. The data revealed that the average time taken to complete smaller projects (less than 500 units) was four years, while larger projects (more than 500 units) took 4.9 years to complete.
In the last decade, the average time taken by builders was 4.9 years for small projects and 6.1 years for larger ones. However, with the implementation of new construction technologies and regulations, builders have managed to reduce the completion time by 18% for small projects and 20% for large projects.
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Frequently Asked Questions
What is the average reduction in project completion time across seven major cities in India?
According to the report, the average reduction in project completion time is 18-20%.
Which city took the least time to complete both small and large projects in the last 10 years?
Chennai took the least time to complete both small and large projects in the last 10 years.
What is the main reason behind the reduction in project completion time?
The adoption of construction technologies and stringent regulations imposed by regulatory authorities are the main reasons behind the reduction in project completion time.
Which cities were included in the report?
The report included seven major cities, including Chennai, Kolkata, Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, Hyderabad, and Bengaluru.
What is the significance of RERA in reducing project completion time?
RERA has ensured that developers adhere to project timelines, thereby reducing the risk of project delays and ensuring timely completion of projects.
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