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COVID-19: Real Estate companies facing difficulty to hold on to workers amid fear of lockdown

Therefore, the real estate experts expressed about how Realty and construction companies are managing to prevent their workers from leaving worksites, using the lessons learnt through last summer’s chaotic evacuation of cities.

COVID-19: Real Estate companies facing difficulty to hold on to workers amid fear of lockdown
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For many industries, it was a transformative year while the real estate sector, which is one of the country's largest GDP contributors and also the largest employment generators, underwent a turbulent change.

According to the analysis, with emerging work from home and shared workspace culture the demand would continue to remain subdued during the financial year 2022 for commercial units. However, in the case of mall leasing, malls too have been witnessing very limited footfalls with the resurgence of the virus and the outlook for the segment thus continues to remain negative especially with the growing popularity of e-commerce.

In conversation with Mumbai Live, the real estate experts expressed how Realty and construction companies are managing to prevent their workers from leaving worksites, using the lessons learnt through last summer’s chaotic evacuation of cities.

Director of AMs Project Consultants Pvt. Ltd, Vinit Dungarwal said, “There is not likely to be another lockdown, as the government has made it clear that the focus is now on 'test-track-treat' protocol, and not shutting down establishments. I believe industry leaders will have to step in and take initiatives in terms of acting as a bridge between the government and workers in order to implement certain timely actions that can provide solutions to such challenges. One such step could be to inform these labourers/workers how their health and well-being are ensured through systematic efforts.”

As Maharashtra reeling under the second wave of COVID-19, the state government imposed lockdown-like restrictions. Meanwhile, an analysis this might hamper the recovery in the real estate sector witnessed in the last six months.

Aditya Kushwaha, CEO & Director, Axis Ecorp said, “Ever since early last year, there has already been a major impact of the lockdown on the developers leading to halting the construction activities at innumerable projects across the country. For almost the last four months the work was progressing smoothly, however, as the cases have started to surge, labourers are beginning to be impacted by the fear of infection and the lockdown.”

“We’re making a deliberate effort to make the labourers at our construction sites feel more comfortable and secure by making all the necessary arrangements of food storage, provisioning medical supplies, and an additional daily wage to further boost their confidence and intrigue them to stay back for work and to earn more money,” Kushwaha added.

Even though the government has made it clear in its official communication that it’s not looking at imposing a complete lockdown, there’s a sense of fear among migrant labourers.

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