Pune real estate sector hit by second wave of Covid-19

15 Jun 2021 CW Team

The second wave of Covid-19 pandemic has hit Pune’s real estate sector and the industry is looking for a way out.

Severe scarcity of construction labourers, increasing costs of essential materials and setbacks in getting building permits have impacted the construction sector.

A nationwide survey carried between May 24 and June 3 by the Confederation of Real Estate Developers’ Associations of India (CREDAI), the apex body of private real estate developers, found that more than 90% of developers are facing shortages of workers at construction sites due to which the projects have delayed. Approximately 5,000 developers from more than 200 cities engaged in it.

As per the CREDAI-national’s countrywide report, about 94% of builders in Pune are suffering labour shortages and say ongoing projects may get delayed. Surging prices of steel, aluminium, cement, PYC and copper will increase housing costs. Up to 91% of developers say they are not receiving required permissions on time, Anil Pharande, the President of CREDAI-Pune Metro, told the media.

The survey also observed that 75% of builders’ customers are facing home loan difficulties, given the drastic impact of the Covid-19 pandemic on purchasing power and loan repayment. More than 50% of the developers stated that their construction costs had risen by 10% to 20 % due to the rising material and labour costs.

CREDAI, Pune has prompted the central and state governments to instil urgent financial stimulus and start progressive measures to help recovery, a one-time restructuring of loans and a six months’ extension of completion date by RERA among other matters.

Satish Magar, National Chairman of CREDAI, said that on the one hand, the costs of steel and cement needed for construction are steadily increasing, while on the other hand, the number of consumers is decreasing. In such a situation, the Central government should interrupt and regulate the costs of steel and cement.

Image Source

Also read: COVID-19’s Impact on Walls & Ceilings

Also read: Real estate developers fear project delays due to Covid-19: CREDAI

The second wave of Covid-19 pandemic has hit Pune’s real estate sector and the industry is looking for a way out. Severe scarcity of construction labourers, increasing costs of essential materials and setbacks in getting building permits have impacted the construction sector. A nationwide survey carried between May 24 and June 3 by the Confederation of Real Estate Developers’ Associations of India (CREDAI), the apex body of private real estate developers, found that more than 90% of developers are facing shortages of workers at construction sites due to which the projects have delayed. Approximately 5,000 developers from more than 200 cities engaged in it. As per the CREDAI-national’s countrywide report, about 94% of builders in Pune are suffering labour shortages and say ongoing projects may get delayed. Surging prices of steel, aluminium, cement, PYC and copper will increase housing costs. Up to 91% of developers say they are not receiving required permissions on time, Anil Pharande, the President of CREDAI-Pune Metro, told the media. The survey also observed that 75% of builders’ customers are facing home loan difficulties, given the drastic impact of the Covid-19 pandemic on purchasing power and loan repayment. More than 50% of the developers stated that their construction costs had risen by 10% to 20 % due to the rising material and labour costs. CREDAI, Pune has prompted the central and state governments to instil urgent financial stimulus and start progressive measures to help recovery, a one-time restructuring of loans and a six months’ extension of completion date by RERA among other matters. Satish Magar, National Chairman of CREDAI, said that on the one hand, the costs of steel and cement needed for construction are steadily increasing, while on the other hand, the number of consumers is decreasing. In such a situation, the Central government should interrupt and regulate the costs of steel and cement. Image Source Also read: COVID-19’s Impact on Walls & Ceilings Also read: Real estate developers fear project delays due to Covid-19: CREDAI

Infrastructure Transport

06 May 2026

Pune To Build Nine Km Link Road Between Highways

The Pune Municipal Corporation (PMC) has decided to appoint an expert to plan the development of a nine km long, 60 metre wide road from Khadi Machine chowk to Wadki chowk as an extension to the Katraj-Kondhwa road to link the Mumbai-Satara and Pune-Solapur national highways. The scheme is intended to divert heavy vehicle traffic away from the city and improve access between the two arterial routes. The project has been prioritised by the PMC and forms part of a larger set of schemes in which 19 roads have been identified for development at a combined cost of Rs 9.82 billion (bn) to address c..

Infrastructure Transport

06 May 2026

Barabanki Bahraich Six Lane Highway Approved in Uttar Pradesh

The Uttar Pradesh government has approved construction of a new six-lane highway linking Barabanki and Bahraich as part of National Highway 927, and the cabinet has cleared the project. The alignment will pass through Mustafabad and Kaiserganj and extend for about 101.5 km, creating a key corridor for local and long-distance movement. The National Highways Authority of India will oversee the work and has signalled the scheme is intended to strengthen regional connectivity and cross-border access to Nepal. The project carries an estimated total cost of Rs 69,690 million, equivalent to Rs 69.69..

Infrastructure Transport

06 May 2026

Toll At Kharegaon Likely As Highway Upgrade Nears Completion

A section of the highway at Kharegaon has undergone an upgrade and is approaching completion, and authorities have indicated plans for a toll to be introduced once works finish. The project has focused on strengthening the carriageway, improving drainage and upgrading intersections to enhance safety and capacity. Officials have said the toll will be used to recover construction costs and fund ongoing maintenance. The upgrade included resurfacing of the pavement, widening of certain stretches and installation of modern signage and lighting to reduce accident risk. Contractors completed most ma..