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Real Estate Welcomes Lockdown Extension, Seeks Damage Control Measures for Liquidity Crisis
Published : April 15, 2020, 2:07 PM
Updated : June 23, 2025, 2:50 PM
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April 15, 2020: The health and safety of the nation is the focal point at this time. The real estate industry welcomed the centre’s decision to extend the lockdown period till May 3. But as a body it is also looking forward for the government to provide a relief package to ease the liquidity crisis faced by builders and also allow limited construction activities with proper safety. “We support the prime minister’s announcement on extension of the lockdown. We are looking forward to the blueprint by the government to be revealed on April 20 and would also urge the government to permit limited construction activity as this will help the real estate sector unfold its economic movement in a staggered way,” CREDAI National Chairman Jaxay Shah said in a statement.
“The need of the hour is the economic package by the RBI to address the liquidity challenges being faced by the housing sector”, he added. The industry already reeling under few setbacks will take time to recover once the lockdown is lifted.
It is anticipated that this will adversely impact on the economy that is already under severe stress. Industry stalwarts are looking forward to some measures that would keep the businesses afloat such as one-time restructuring of developers’ bank loans to tide over this liquidity crisis.
However, the cumulative viewpoint of all veterans is that the economic activity should gradually resume including resumption of construction activity at project sites.
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