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 Urban

17 Sep 2025

DCPC Prepares for Special Campaign 5.0 with Focus on E-Waste

The Department of Chemicals and Petrochemicals (DCPC), Ministry of Chemicals and Fertilisers, is gearing up for Special Campaign 5.0, to be held from 2nd to 31st October 2025. The initiative will focus on e-waste disposal as per MoEFCC’s E-Waste Management Rules 2022, space optimisation, and enhancing workplace efficiency across field offices.Special Campaign 4.0, conducted between October 2023 and October 2024, delivered notable results in record management, grievance redressal, scrap disposal, and cleanliness drives.Key outcomes of Special Campaign 4.0Records management: 2,443 physical fil..

Real Estate

17 Sep 2025

BlackRock India Leases 1.4 Lakh Sq Ft in Bengaluru

BlackRock Services India, the domestic arm of global asset manager BlackRock, has leased 1.4 lakh sq ft of office space at IndiQube Symphony in Bengaluru, according to Propstack data. The 10-year deal is valued at around Rs 4.10 billion.The lease, among the largest transactions in India’s co-working sector, highlights the growing preference of global institutions for flexible office providers. The agreement, commencing October 1, 2025, covers ground plus five floors in KNG Tower 1 at Ashoknagar, MG Road — one of Bengaluru’s prime commercial hubs.As per the lease document, BlackRock will ..

Infrastructure Transport

17 Sep 2025

L&T Bags Rs 25–50 Bn Order for Mumbai-Ahmedabad Bullet Train Track Works

Larsen & Toubro’s (L&T) Transportation Infrastructure business has secured an order valued between Rs 25 crore and Rs 50 billion from the National High Speed Rail Corporation Limited (NHSRCL) for the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor.The contract, Package T1, involves the design, supply, construction, testing, and commissioning of 156 route km of high-speed ballastless track on a Design-Build Lump Sum Price basis. The stretch runs from Mumbai’s Bandra-Kurla Complex to Zaroli village in Gujarat and includes 21 km of underground track and 135 km of elevated viaduct.Se..