Views of Mr. Rohit Gera on Pune lockdown and real estate sector

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New Delhi, July 18, 2020: “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 marginalised individuals who earn money on a daily basis and affecting their livelihoods for another 10 days puts them at a 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”.

Corporate Comm India (CCI Newswire)