PUNE: Rohit Gera commented on the Pune lockdown and the real estate industry in a digital conversation with NRInews24x7.
“The Government of Maharashtra has recently issued a complete lockdown for a 5+5-day period for the entire Pune region. While this is necessitated on account of the rapid spread of the virus, unfortunately, this sort of stop-start approach has an extremely negative impact on the economy and on customer sentiment. Unfortunately, the most affected are the poor and marginalized individuals who earn money on a daily basis, and affecting their livelihoods for another 10 days puts them at risk of extreme starvation. It is an extremely challenging time for governments everywhere in choosing between life versus livelihood.
The real estate sector was finding a challenge in getting migrant workers to come back and this lockdown further creates a negative sentiment for those who are still in their villages and taking a ‘wait and watch’ approach to come back. This affects the delivery of homes, increases interest costs for home buyers as well, and negatively impacts employment and the economy as a whole”.
