Real estate recovering from Covid shock: Over 18,000 residential, commercial units to be delivered a
Aug 2022
 
Over 18,000 residential and commercial units are likely to be delivered this year across the National Capital Region, as the real estate sector looks to recover from the effects of the consecutive lockdowns due to Covid-19. While the lockdowns had forced the realtors to stop construction activities due to lack of labourers, the phased unlock has brought much-needed relief to the sector.

Many labourers, who had left for their hometowns during the lockdowns, have now returned and work is picking up pace. One of the real estate giants of Noida, Gaursons group, is likely to deliver over 5,000 units including residential and commercial housing.

“The second wave of Covid-19 affected input material supply chains once again, disrupting construction schedules. The sector was able to get through this period because of the digital disruption expedited by the crisis. Overall, the market recovery and housing project completion appear to have been delayed for at least another two quarters. On the other hand, government aid in the form of low-cost loans is expected to go a long way toward helping the sector,” said Manoj Gaur, CMG, Gaursons India Limited and Vice president (north) Confederation of real estate developers of India (CREDAI) National.