Barring Gurugram Faridabad, construction banned in Noida, Ghaziabad for now

Real Estate

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 clearances.  In view of this most of Haryana-based builders have started the process to resume work.

Recently the ministry for home affairs (MHA) had issued a set of guidelines to follow while allowing certain industries, including real estate, to resume work, but majority states have deemed it proper to play safe and carry forward the lockdown till May 3.

The local administrations in Noida, Ghaziabad have decided to continue the ban till May 3, while the Haryana government has allowed resumption of construction work in Gurugram and Faridabad if the project is outside the containment zone. The reason why the Noida and Ghaziabad are still facing lockdown is that the number of hotspots has increased in both these districts. Builders active in both these regions have demanded relief package from central as well as state governments since the ban will ultimately result in delaying their projects’ completion.

The aggrieved builders of Noida and Ghaziabad under the banner of UP chapter of the National Real Estate Development Council (NAREDCO), have demanded the waiver of stamp duty, deferment of land dues installments and extension of EMIs for one year for homebuyers and any term loans.

Highlighting their grievances, they said it’s a double whammy for them as the construction was already halted in November and December due to NGT ban and now the ban has been extended due to Coronavirus pandemic which has taken its toll on the overall market sentiments.

 

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