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

CONCOR Launches Double-stack Service Between NCR and Varnama

State-run Container Corporation of India (CONCOR) has launched double-stack container train services between the National Capital Region (NCR) and Varnama near Baroda. This initiative aims to facilitate customers at Nhava Sheva near Mumbai, home to Jawaharlal Nehru Port (J N Port). On December 21, the first double-stack container train from Khatuwas and Dadri in NCR reached CONCOR’s Gati Shakti Multimodal Cargo Terminal (GCT) at Varnama, situated along the Western Dedicated Freight Corridor (WDFC). The train carried export cargo destined for J N Port, according to a statement from the state..

Next Story
Infrastructure Transport

Less than 10% of Rs 40 Billion State-aid for Shipbuilding Utilised

A government-sanctioned financial assistance program worth Rs 40 billion, intended to support local shipbuilders over a decade starting in April 2016, has seen minimal utilisation, with only Rs 3.85 billion—less than 10 per cent of the total fund—disbursed thus far. With 15 months remaining before the scheme concludes, its uptake has been limited. The financial aid applies to shipbuilding contracts signed between April 1, 2016, and March 31, 2026. According to a written response provided by Union Minister of Ports, Shipping, and Waterways Sarbananda Sonowal to the Rajya Sabha on December ..

Next Story
Infrastructure Transport

Civil Aviation Minister Opens New ATC Tower at Indore Airport

The Minister for Civil Aviation, Ram Mohan Naidu Kinjarapu, inaugurated the new Air Traffic Control (ATC) Tower-cum-technical block at Devi Ahilyabai Holkar International Airport in Indore, Madhya Pradesh. During the inauguration, the minister toured the facility, where ATC experts explained various technical aspects of tracking and coordinating flights from the newly constructed tower. In addition to the ATC tower, the airport has also introduced a zero-waste plant. The union minister confirmed that this initiative aligns with the government’s commitment to sustainability. Minister Ki..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000