Owing to slack demand in the housing sector amid tight liquidity condition, realty major DLF has decided to suspend more than quarter of its commercial projects. Escalating costs across sectors have only led to an overall rise in the total costs and shrinking demand has appalled the situation further to deteriorate.
DLF is reported to have halted construction work on nearly 16 million sq ft, one-fourth of the total, of office and rental mall space out of the 62 million sq ft of planned construction and it is expected that the suspension would continue until its finance improves and demand rises.