Some construction to resume in non-hotspots
Real Estate

Some construction to resume in non-hotspots

Photo: For representational purpose

In a major move to kickstart at least some pent-up economic activity, the government today released the guidelines to be followed during lockdown 2.0. Offering some relief to the construction sector, the government has permitted activity to resume in non-COVID-19 or Coronavirus hotspots, provided they follow strict social distancing guidelines. Having said that, the guideline clearly mentions that no construction worker will be brought from outside and only those currently available on the site will be able to resume work.

Considering the ongoing scenario, the move to start at least some of the construction activity on project sites, even with limited workforce, is certainly welcome. That said, since many migrant workers had left for their villages  post lockdown 1.0 announcement, we will have to wait and see how many are actually left back to resume work. Migrant workers comprise at least 80 per cent share of the total 44 million workforce in the construction sector currently.

That aside, it will definitely help the real estate sector to some extent as well. However, the fact that COVID-19 hotspots will not be able to resume activity from April 20 is a dampener for markets such as the Mumbai Metropolitan Region (MMR) – a highly-impacted zone which, as per Anarock data, currently has the highest under-construction residential stock of nearly 4.65 lakh units. This accounts for 30 per cent of the overall 15.62 lakh under-construction stock across the top seven cities.

As far as construction activity in non-hotspots is concerned, developers will need to focus on resuming construction on projects that are already nearing completion and have a completion deadline within 2020.

About the Author:

Anuj Puri is Chairman at Anarock Property Consultants.

Photo: For representational purpose In a major move to kickstart at least some pent-up economic activity, the government today released the guidelines to be followed during lockdown 2.0. Offering some relief to the construction sector, the government has permitted activity to resume in non-COVID-19 or Coronavirus hotspots, provided they follow strict social distancing guidelines. Having said that, the guideline clearly mentions that no construction worker will be brought from outside and only those currently available on the site will be able to resume work. Considering the ongoing scenario, the move to start at least some of the construction activity on project sites, even with limited workforce, is certainly welcome. That said, since many migrant workers had left for their villages  post lockdown 1.0 announcement, we will have to wait and see how many are actually left back to resume work. Migrant workers comprise at least 80 per cent share of the total 44 million workforce in the construction sector currently. That aside, it will definitely help the real estate sector to some extent as well. However, the fact that COVID-19 hotspots will not be able to resume activity from April 20 is a dampener for markets such as the Mumbai Metropolitan Region (MMR) – a highly-impacted zone which, as per Anarock data, currently has the highest under-construction residential stock of nearly 4.65 lakh units. This accounts for 30 per cent of the overall 15.62 lakh under-construction stock across the top seven cities. As far as construction activity in non-hotspots is concerned, developers will need to focus on resuming construction on projects that are already nearing completion and have a completion deadline within 2020. About the Author:Anuj Puri is Chairman at Anarock Property Consultants.

Next Story
Infrastructure Urban

Six Bidders Vie for Rs 572 Bn Jaiprakash Associates

The scramble to rescue Jaiprakash Associates Ltd (JAL), the flagship of the debt-laden Jaypee Group, reached a decisive stage on Tuesday as the window for resolution plans shut with at least six suitors in the fray. Industry sources say Adani Enterprises, Vedanta Group, Dalmia Bharat, Jaypee Infratech (backed by the Suraksha Group), Jindal Power and PNC Infratech have all lodged bids. Jaypee Infratech confirmed its submission but declined to reveal details.Lenders will open and assess the offers at a Committee of Creditors meeting today. Although bid values remain under wraps, the National Ass..

Next Story
Infrastructure Urban

Delhi Orders Urgent MAMC Hostel Repair and Safety Upgrade

Delhi Chief Minister Rekha Gupta has instructed multiple departments to overhaul hostel infrastructure and enhance student safety at Maulana Azad Medical College (MAMC). Chairing a high-level meeting at the Delhi Secretariat with Public Works Department, Health officials and student representatives, the Chief Minister demanded immediate repairs to ageing hostel blocks, new high-intensity LED lighting, round-the-clock CCTV coverage and a larger security presence.She also ordered a special drive to clear illegal encroachments around the campus and fast-track plans for an additional hostel, delay..

Next Story
Infrastructure Transport

Vikaspuri Road Upgrade, Tree Drive to Boost Delhi Constituency

Delhi’s Health and Transport Minister Pankaj Kumar Singh has broken ground on the long-awaited Baprola Village–Harphool Vihar road while leading a record plantation of 501 saplings under the “Ek Ped Maa Ke Naam” campaign. He said the two initiatives reflect the capital’s “people-centric governance”, promising safer, faster and more dignified daily life for residents.The rebuilt thoroughfare will ease commutes for Baprola Village, G-2 Jai Vihar, Prashant Enclave, Bajrang Chowk and Harphool Vihar, directly benefiting an estimated three thousand to three thousand five hundred school..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?