A new report states that projects worth nearly ₹2.63 lakh crore have been affected in Mumbai due to the prolonged lockdown. It is said that this has impacted a total of 794 infrastructure projects in the city. The data for the report was gathered in a survey conducted by Projects Today.
Diving deeper into the data, it is said that 73 per cent of the withheld projects were handled by the government while around 26 per cent of the projects were privately managed by real-estate developers across the city.
Additionally, around 607 projects have been impacted in Pune, while Nagpur has seen 117 projects brought to a halt due to the lockdown.
Read - Complete Lockdown Imposed In Madh From June 11 To June 15
A separate survey conducted among 233 people comprising of architects, contractors, and related consultants from 30 cities and 14 states last month. Around 56.2 per cent of these respondents said that finding labourers post-lockdown remains their primary concern while 53 per cent of them said that generating financing for their projects will prove to be a tough task. There’s also a growing concern about the transportation of raw materials like cement, steel, bricks, sand, and so on that are necessary for infrastructure projects.
Shashikant Hegde, CEO, Projects Today said, “Most projects will face an overrun of a minimum of six months. Labour shortage and the upcoming monsoon season will prove to be a big hurdle for most of the infrastructure projects to restart properly.”
The survey also compiled a list of states with “COVID-halted projects investment” with Maharashtra on top of the list while Delhi, Uttar Pradesh, Andhra Pradesh, and Gujarat make up the top 5.
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