Covid second wave: Bengaluru developers buck the trend, don t see labour shortage thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
95% customers postponed home-buying decisions amid COVID-19 second wave, shows survey
Credai released findings of its first-ever industry survey conducted across North, East, West and South zones conducted between May 24 and June 3.
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Updated: Jun 10, 2021, 03:21 PM IST
The second wave of the COVID-19 pandemic has dealt a severe blow to several sectors of the market and real estate is one of them. According to the survey by the Confederation of Real Estate Developers Associations of India (Credai), about 95 per cent of developers fear project delays, 92 per cent are experiencing labour shortage at project sites, 83 per cent are working with less than half the workforce, and over 82 per cent of builders are facing project approval delays.
Highlights
One of the most extensive real estate surveys conducted as yet.
90% developers feel that second wave is more devastating.
New Delhi: The second wave of COVID-19 dealt a severe blow to India s real estate sector with the industry seeking urgent relief for recovery.
According to the survey report by Confederation of Real Estate Developers Associations of India (CREDAI), over 95% developers feel inevitable project delays if no urgent relief measures are injected in the sector by the government and RBI. These delays are attributed to a range of factors, with 92% developers experiencing labor shortage at sites, 83% developers are working with less than half the workforce, and over 82% of developers are facing project approval delays.
Over 95 per cent developers in the country expect delays in project completion due to the second wave of Covid-19, according to a survey by the Confederation of Real Estate Developers Associations of India (CREDAI).The survey also showed that .