The
health and safety of the nation is the focal point at this time. The real estate industry welcomed the Centre's decision to extend the lockdown period
until 3 May. But as a body, it is also quick to provide a relief package to the
government to alleviate the liquidity crisis faced by the builders and also
allow limited construction activities with appropriate.
“We
support the Prime Minister's announcement on the extension of the lockdown. We
are waiting for the roadmap to be presented by the government on April 20 and
will also urge the government to allow limited construction activity as it will
help the real estate sector to bring its economic movement in a formidable
shape, "CREDAI.
It is anticipated that this will adversely
affect an economy already under severe stress. Industry giants are looking for
some measures that will keep businesses such as outright restructuring of bank loans from developers to deal with this liquidity crisis.
However,
the cumulative approach of all veterans is that economic activities should
start slowly including resuming construction activity at project sites.
