The CREDAI has exuded confidence that the impact of new variant Omicron would be null and void on the realty sector of the country. Even after Pongal, the sale transactions will continue. As of now there are no any hiccups. The same situation will continue, unless there is a drastic increase in new variant cases. There will be no problems as far as delivery of properties is concerned.
“Developers are ready to face any eventuality in the light of their experiences in the past two waves of the pandemic. They are taking care to ensure that the supply-chain mechanism runs smoothly. They also take precautions in ensuring the availability of the labour force. The construction activity will go on as usual. Therefore, the buyers can plan their house-warming ceremonies without any doubt. The impact of the new variant on the new projects is going to be zero,” feels CREDAI national president Harshavardhan Patodia.
He appealed to the government to exempt the realty sector in case it would have to impose lockdowns or curfews due to any spurt in the new variant cases. Paralyzing construction sector activity would impact workers and also the economy of the country, he said.
Covid-19 precautions have been put in place in project areas and relevant offices. The realty sector that had seen ups and downs due to the pandemic is slowly limping back to normal, opine experts. The realty sector proved its mettle like earlier times during the current festival season. The boom will continue even in 2022 too. Because of the developments that had occurred in this field during the past two years, there was a perceptible change in the thinking of buyers. Developers also rose to meet their aspirations leading to smooth functioning of all activities.
Several experts have shared their views with Real Estate Guru on What changes occurred in the real estate market in 2021? What were the lessons learnt? What changes have been brought about in the realty sector? What is going to be the future of the realty sector.
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