Has real estate developed the cushion to face the brunt of second COVID wave ?

While the ongoing second wave of Covid-19 could cause some disruptions in the overall construction activity in the country, the performance of most mid and large-sized construction companies is not expected to be materially impacted. The exponential second surge in COVID cases across India has certainly brought the worry and apprehension amongst the people who especially earn through their daily wages. Because reverse migration is looming back again across various sectors and especially in Real Estate. However the Realty sector is far better today and prepared for the upcoming circumstances than they were a year ago.

Amid resurgence of covid second wave, reverse migration is being witnessed across the real estate sector. Last year when everything was on halt across the country because of which the realty sector had to suffer significantly. Although as of now there is no announcement of complete lockdown yet and if incase the lockdown situation arises, the real estate sector has already tried and tested the methods to tackle the situation. Also things are pre-strategized for the site laborers for their basic necessities of food and shelter. Above all regular testing being conducted to mitigate risks.

Mr Pradeep Aggarwal, Founder & Chairman, Signature Global Group, Chairman, ASSOCHAM, National Council on Real Estate, Housing and Urban Development, says, “If any critical situation occurs, we will abide by the government guidelines and retain labor as much as possible, providing all safety measures and precautions. And yes the safety and security of everyone will be our priority, as it has always been for years.

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