NEW DELHI: Over 4.65 lakh units, worth over USD 47 billion, are facing significant execution delays across major Indian cities due to sales slowdown, cash crunch facing developers and issues related to project approvals, says a PropEquity report. 

As many as 1,687 projects, comprising 4,65,555 units with a saleable area of nearly 600 million sq ft, are significantly behind delivery schedule, it said. 

The current value of these units is Rs 3,32,848 crore (over USD 47 billion), said the report by real estate data and analytics firm. 
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"Real estate in India may be witnessing green shoots of recovery in select micro markets however over 4.65 lakh units of housing projects across India are significantly behind their delivery deadlines with daunting construction delays...Total value of projects facing construction delays is Rs 3.3 lakh crore or over USD 47 billion," the report said. 

It attributed the delays in delivery of projects, to many reasons including financial constraints, execution challenges, surplus supply due to over ambitious launches by developers, environmental clearances and slowing sales among others. 

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