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How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

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How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

Last updated: 2 weeks ago
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  • #31

    #31

    Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

    Originally posted by doorbell1 View Post

    The real estate sector should not forget that the majority of migrant workers who have departed from major cities are labourers and not architects or engineers. So will now there be a new course called 'Diploma in Labouring'

    Jokes apart, it is going to take many years to fill up void left by the migrant workers, a majority of who will not be returning anytime soon.
    I do not understand Centre and State Govt trying to send these migrant labourers back home, opposition also raising this, Sonu Sood and other helping them but tell me this thing we are in UNLOCK phase now, demand of labourers will go high again as most of the constructions sites will resume, but now we don't have labour who can work, then what's the benefit of sending them back at this point of time. People died walking to their homes hundreds of KMs.

    Again these people have to come back to cities for opportunities, they have nothing to do their, if you say farming then sorry they will be cheated by govt in Farming, anyways let's hope for the best.

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    • #32

      #32

      Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

      Somewhere in December 2019, the governement had been thinking about subsuming around 44 central labour laws under four labour codes in 2020 on wages, industrial relations, social security and occupational safety, health and working conditions. These were expected to ease business and safeguard the interest of workers.

      The Coronavirus pandemic has revealed the insecurity that workers live with in our country. It becomes imperative to announce and deliver packages for the workers too securing their lives and livelihood. Lets hope that the government doesn't forget to add the workers in the huge relief packages that are being given out or will be given out for various sectors in the country.
      Last edited June 11 2020, 05:34 PM.
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      • #33

        #33

        Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

        A majority of real estate projects in prime Indian cities will be delayed by many months and it will be difficult for the government to assure migrant workers to come back.

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        • #34

          #34

          Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

          Instead of all the reluctant efforts of sending migrant workers home, efforts should have been made to make provisions to keep them in the cities in the best possible conditions. That would have been a better decision because now bringing them back will be another problem and the whole idea of using local workers is not going to to work to full extent.
          Last edited June 12 2020, 10:05 AM.

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          • sidambani
            sidambani commented
            Editing a comment
            Here is what I think will happen. Property prices will remain the same or will actually rise. This is firstly because of falling Rupee. Secondly, limited labor will not allow for new construction. Hence already constructed projects will have a higher demand, and hence will rise in prices.
        • #35

          #35

          Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

          Builders are not in favour of decreasing property prices as suggested by several ministers and other politicians to boost the economy, citing high purchase rates of lands and taxes.
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          • #36

            #36

            Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

            Taking into considering prevailing circumstances, real estate prices don't look like going down as per buyers' expectations owing to many reasons like total costs incurred on developing projects, heavy pending loans on developers, immiment scarcity of raw materials and the obvious shortage of construction workers.
            Last edited June 18 2020, 09:59 AM.
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            • #37

              #37

              Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

              CREDAI, representing around 20,000 developers across the country, has asked all of its members to avoid using goods manufactured in China and prefer Make-in-India or Swadeshi products. It has informed all 250 real-estate-linked allied industries to manufacture products locally and completely avoid importing them from China.
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              • #38

                #38

                Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

                Due to COVID-19, there has been an obvious disruption in supply chain emanating from China and their anti-India acts at the border have further put a huge question mark on all future trades. Real estate will drag a bit as far as timely completion of projects is concerned as sourcing locally produced quality materials may take some time.
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                • #39

                  #39

                  Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

                  The Indian government has proposed to increase duties on imports from China amid the ongoing border crisis.
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                  • #40

                    #40

                    Re : How will Coronavirus COVID-19 outbreak effect or impact Real Estate in India

                    Real estate developers are assured that local production of materials and purchase will further lead to reduced procurement time and minimal loss of production hours. It will further increase employment opportunities for the local people.
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