New supply of homes up to Rs 60 lakh decline 38% across 8 major cities
Real estate data analytic firm PropEquity said that in the January-March this year, the supply declined to 33,420 units, with builders focusing on developing luxury flats.
Heavy rainfall in Delhi-NCR that started on Thursday, led to widespread waterlogging and severe traffic jams on Friday morning.
According to the Meteorological Department, Delhi received 228 mm of rainfall from 8:30 A.M. on Thursday to 8:30 A.M. on Friday, marking the highest 24-hour rainfall in June since 1936, when 235.5 mm of rain was recorded.
Typically, Delhi receives an average of 80.6 mm of rain in June.
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The deluge significantly impacted daily life in Delhi-NCR, with commuters facing severe waterlogging and traffic jams during their morning commute.
However, the downpour provided respite from the intense heat of the past two months, with the minimum temperature on Friday recorded at 24.7 degrees Celsius, 3.2 degrees below normal.
This unprecedented rainfall has highlighted the shortcomings in the city’s infrastructure.
Despite claims by Delhi Mayor Shelly Oberoi on June 18 that the city was prepared for the monsoon, the first significant rain has already caused substantial waterlogging.
Shelly Oberoi had previously assured that the storm drains were clean and ready, promising a hassle-free monsoon for Delhi residents.
Major intersections like ITO saw about two to three feet of water accumulation, causing extensive traffic jams.
The Hanuman Temple Intersection leading to Mandi House was submerged under three feet of water, leading to road closures and disruptions on Ashoka Road, Feroz Shah Road, and Connaught Place. Similar conditions were reported at Moolchand and other areas of Delhi.
In Noida, the situation was equally dire. Despite inspections by the CEO of Noida Authority and officials on Thursday, the rain caused severe waterlogging in many areas, including the Mahamaya Flyover, Sector 62, and Sector 15 and 16.
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