A Positive Move For The Real Estate Sector

Amit B Wadhwani- MD, Sai Estate Consultants Chembur Pvt Ltd ( SECCPL )   "The announcement made by our honorable Finance Minister about extension of registration and completion date of real estate projects registered under RERA is a positive move for the real estate sector as whole which has been distressed since the lockdown. This gives some relief to ensure the completion of the pending projects. For the revival of the sector under several restrictions and to infuse liquidity, we look forward to more such steps as real estate sector is a significant contributor to the GDP. However, to kick-start the construction activities, we need labour support, and given the current situation that is what needs more attention. Apart from procuring of raw material and their increased prices, the labour crunch is going to be a potential crisis for the real estate industry to deal with shortly. With no timeline to the pandemic coming to an end, the return of labour will be something that cannot be ignored by the industry or by various sectors affected"