Construction work to be started soon in NCR towns

Real Estate

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 required social distancing norms among their workers during the work. The builders who have been given permission to start construction in their projects include DLF and M3M.

Some infrastructure projects have also been given permission to restart work. Β In all, over 45 sites across Gurugram have been approved by the GMDA for immediate start of construction work. According to the GMDA notification, small sites can start work even without taking approval, while the projects located outside the contaminated zones have also be given instant approval.

The twin city of Noida and Greater Noida may also witness start of construction in different projects in the month of May after the grant of approvals from their respective authorities. However, both these cities are currently facing an acute shortage of labourers . In such a scenario, the construction work will be started but with very slow pace.

In the meanwhile, the builders in both these cities have demanded one-year extension of deadlines for completion of their pending projects, besides disbursement of Rs 25,000 crore stress fund announced by the central government. They have also demanded waiver of stamp duty for one year to create a demand in the property markets.

 

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