Considering the massive impact of pandemic on real estate sector as several projects have been slowed down in past one and half years. Migration of workers one of the factors. Therefore, now the developers believe getting workers vaccinated at construction sites itself is essential, same on the lines of Cooperative housing societies.
The mounting fear among labourers can only be overcome once they are fully vaccinated, believes Manju Yagnik Vice Chairperson, Nahar Group & Sr. Vice President, Naredco, Maharashtra.
Yagnik said, "Property possession which were committed this year have been piled up by 4-5 lakh in major cities of Maharashtra. Another 4-5 lakh inventory which were committed by end of this year or by early next year has also been largely affected. Though we are slowly moving towards unlock (Maharashtra) now, but of course there is a fear among everyone of third wave, etc. Therefore it is necessary that we get our workers vaccinated as earliest as possible."
The real estate sector contributes 14-15 per cent to the Nationa's Gross Domestic Product (GDP). It is the second highest GDP contributor after agriculture. As for any country's development economy is vital and real estate sector is second in line, vaccination is the need of the hour, said Yagnik. Meanwhile she also asserted that already the sector is finding ways for it and have already suggested that they are ready to bear the cost of vaccination. Besides all necessary infrastructure will also be provided.
Similarly, Rohit Poddar, Managing Director, Poddar Housing and Development LTD stated seamless execution of vaccination across the country would mitigate the cases significantly. "It will help in boosting the consumer sentiment across sector which in turn will increase the overall consumption, bringing businesses back on growth track. As the country opens up vaccination in a phase wise manner, the onsite vaccination will help in saving the hassle for the workers eventually leading to zero-halt operations across all the construction sites."
Also, Builders Association of India (BAI) which is an apex of all India body of Engineering, Construction, Contractors and Real Estate Companies having more than 20,000 business entities as members through its 200 plus centres across the country expressed similar views. Anand Gupta Chairperson, housing & RERA committee, BAI said, "Vaccination of workers on site if done can stop migration. Also it will make working at site safe. Which in turn can ensure timely completion of projects and boost construction industry."COVID-19 in Mumbai: List of vaccination centres issued by BMC for June 14
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