Confederation of Real Estate Developers Association of Indian (Credai) has said delivery timelines of realty projects could be hit as more than 25% migrant workers have left for their hometowns. UP-Rera has taken cognizance of the situation and says it may offer deadline extensions to builders.
Pankaj Bajaj, president of Credai-NCR, said: “Sourcing material has once again become a problem with weekend markets being shut, also over 25% migrant workers have left for their home towns. As a result, running day-to-day work has become a problem. We are not being able to stick to timelines. The completion deadlines of ongoing projects may be affected.”
UP-Rera has taken cognizance of the situation. “We understand the current situation and may consider some relaxation for builders in the coming days, though nothing has been decided so far,” UP-Rera member Balvinder Kumar said.
Noida and Greater Noida together have around two lakh apartments due for delivery. UP-Rera has already given an extension to the builders for their apartments under-construction as on March 25, 2020.
While work resumed after Unlock, the cities could not get back the entire workforce engaged earlier. As opposed to the pre-pandemic strength of around four lakh, the cities together barely have around 1 lakh workers.
