After the much-awaited relaxation in lockdown norms, construction work in Delhi-NCR is set to resume at a gradual pace. With the recent Delhi government’s nod on resumption of construction activities, the projects sites in national capital have started witnessing gradual activities. Finally, after more than a month of continuing nationwide lockdown, the unemployed construction workers…
Amid COVID-19 Lockdown labour shortage has emerged as one of the biggest issues for the real estate sector as the stranded labourers are waiting to return their villages despite the government has now allowed to start construction activities even in the red zones. Such a situation may result in delay in delivery of projects. Further,…
Amidst the continuing lockdown in the country, Gujarat is showing the way to emerge out of the crisis. In Surat, over 5,000 construction workers have been provided work at construction sites after out of 200 submitted applications by realtors for permission to start work, 75 applications got approved by the district administration. According to the…
The Coronavirus outbreak and thereafter the nationwide lockdown have not only brought site visits and property transactions to a screeching halt, but also stalled the ongoing construction of the housing projects all across the country— which may result in further delay of delivery. It is also expected that the property prices will also take a…
Amid the COVID-19 taking its toll on real estate sales, the developers in Uttar Pradesh (UP) have requested the local authorities to reduce circle rates, power bills and various other charges, besides stamp duty waivers to help them tide over the crisis situation. They have primarily asked for extension of 12 months for paying interest…
Due to the easing of COVID-19 lockdown relaxations granted by the Union Home Ministry, construction in real estate projects spanning across Noida, Greater Noida and Gurugram may start soon. The Gurugram Metropolitan Development Authority (GMDA) has approved 25 projects to restart construction immediately. The permission has been given with instructions to the builders to maintain…
The Pune Municipal Corporation (PMC) is all set to allow construction activities in non-coronavirus hotspots in Pune. It may soon grant permissions to the developers to restart work on their stalled projects. The state government gave relaxation to construction activities, provided the developers follow all the guidelines associated with COVID-19. The PMC is expected to…
The Uttar Pradesh Real Estate Regulatory Authority (UP-RERA) is looking to set up a system for grading of developers and projects in measurable parameters. The initiative is aimed at assisting the homebuyers in making an informed decision. The authority has appointed rating agency CRISIL to set up this system. In consultation with CRISIL, UP-RERA has…
As per the fresh guidelines issued by the local administrations of the NCR region, the ban on construction activity in Noida and Ghaziabad has been extended till May 3. On the contrary, the builders in Gurugram and Faridabad in Haryana have been allowed to resume construction work, but only after they get all the necessary…
Growth in the building material sector is also facing heat due to the COVID-19 impact. The sector’s growth has been substantially impacted due to muted real estate growth and it would see further decline due to COVID-19 outbreak. According to industry experts, the plumbing pipe segment will however be relatively less impacted followed by the…
