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 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Infrastructure Urban

06 Feb 2026

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Infrastructure Urban

06 Feb 2026

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..