Coronavirus | Pune real estate sector reeling under onslaught of second wave
The Hindu
Steps like stamp duty reduction scheme, Input Tax Credit in GST will help revive it, says CREDAI
The second wave of the pandemic has left Pune’s burgeoning real estate market gasping for breath. A severe paucity of construction workers, rising prices of essential materials and delays in getting building permits have affected the construction sector. A nationwide survey conducted between May 24 and June 3 by the Confederation of Real Estate Developers’ Associations of India (CREDAI) — apex body of private real estate developers — found that more than 90% developers are facing labour shortages at their sites and as a result, feared long delays in their projects. Nearly 5,000 developers from more than 200 cities participated in it.
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