Confederation of Real Estate Developers (Credai) and The Indian Builders’ Association said that due to labor shortages on construction sites, the timing of real estate projects may be affected as more than 25% of migrant workers have gone to their hometowns. UP-Rera is aware of the situation and says that it can increase the project’s timelines.
Greater Noida and Noida together have about two lakh ready to move in apartments. Also on March 25, 2020, the UP-Rera has already given developers an extension of their under-construction apartments.
Given labor shortages at construction sites, the Confederation of Real Estate Developers (Credai) and Indian Builders’ Association said the delivery timing of real estate projects could be affected. Since more than 25% of migrant workers traveled to their homes. UP-Rera has become aware of the situation and says that it can extend deadlines of projects.
Although work resumed after unlock, cities could not regain all the labor force as previously. In contrast to the pre-pandemic strength of about four lakhs, there are hardly about 1 lakh workers in the cities.
Pankaj Bajaj, president of Credai-NCR, said. Material supply was again an issue due to the closure of markets over the weekend. In addition, more than 25% of migrant workers traveled to their place of residence. As a result, daily work became a problem. We can not meet deadlines. This may affect the completion timing of the ongoing projects.
Balvinder Kumar, UP-Rera member said, we understand the current situation and may consider some relaxation for builders in the coming days, though nothing has been decided so far.