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Representative image NOIDA: The completion timelines of flats in various stages of construction in Delhi-NCR could stretch up to two years, realtors’ associations Naredco and Credai have said, an impact primarily of two successive waves of the pandemic and the financial and work force disruptions caused by it. This will also make the wait for delayed flats frustratingly longer. According to a survey by real estate consultants Anarock, there are over 3 lakh such flats in the main cities of Delhi-NCR. Flats are considered delayed or stuck if they were launched on or before 2014. Constructions that began after that period are ‘ongoing’. Delivery timelines of ‘ongoing’ projects will also be hit. Completion deadlines of over three lakh flats in NCR may be hit by a two-year delay because of two waves of Covid-19. Realtors’ bodies Naredco and Credai claim at least a two-year setback has to be accounted for by buyers and regulatory authorities. According to Anarock, a ....
NOIDA: With bankruptcy fear increasingly gripping the already-stressed-for-liquidity developers, two builder bodies in Gautam Budh Nagar have pressed the alarm button for an immediate government bailout to help them tide over the Covid-induced economic crisis. They say around 100 under-development realty projects in Noida, Greater Noida and the Yamuna Expressway region need Rs 5,000 crore to fast-track construction. While Naredco on Friday urged Union finance minister Nirmala Sitharaman for delaying NCLT case admissions by a year and pressed for a bailout as well, Credai demanded that all dues with the development authorities in the three regions be given the ‘zero-period benefit’ so that funds could be diverted for completion of projects. ....
NCR realty prices: High raw material cost to drive up NCR realty prices by 20% indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Real estate players in Uttar Pradesh lobby for new policy to resolve insolvencies quicker indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Many labourers had to face a horrid time in Delhi when the city faced a severe shortage of oxygen and hospital beds. The Delhi government has allowed construction activity from May 31 but most of the sites have been unable to resume operations. ....