Considering the massive impact the pandemic has had on the real estate sector, several projects have been slowed down in the last one-and-a-half year. Migration of workers is one of the factors. So, in order to begin work again, developers feel that getting the construction workers vaccinated at the sites itself is essential.
The mounting fear among labourers can only be overcome once they are fully vaccinated, believes Manju Yagnik, vice-chairperson, Nahar Group & sr. vice president, Naredco.
Yagnik said, “As many as four to five lakh projects that were supposed to be completed this year have been piled in major cities of Maharashtra. Another four to five lakh inventory that is supposed to be completed by end of this year or early next year has also been affected. Though we are slowly moving towards unlock now, there is a constant fear of a third wave. Therefore, it is necessary that we get our workers vaccinated at the earliest.”
The real estate sector contributes 14% to 15% of the National’s Gross Domestic Product (GDP). It is the second highest GDP contributor after agriculture. As for any country’s development, economy is vital and the real estate sector is second in line, vaccination is the need of the hour, said Yagnik.
Meanwhile, she also asserted that the sector is finding ways to solve the issue and have suggested that they are ready to bear the cost of vaccination. Besides, all the necessary infrastructure will also be provided.
Also, Builders Association of India (BAI) which is an apex of all India body of engineering, construction, contractors and real estate companies having more than 20,000 business entities as members through its 200 plus centres across the country expressed similar views. Chairperson, housing & RERA committee, BAI, Anand Gupta said, “Vaccination of workers on site if done can stop migration. Also it will make working at site safe. This, in turn, can ensure completion of projects and boost the construction industry.”
Similarly, Rohit Poddar, Managing Director, Poddar Housing and Development LTD stated seamless execution of vaccination across the country would mitigate the cases significantly. "It will help in boosting the consumer sentiment across sector which in turn will increase the overall consumption, bringing businesses back on growth track. As the country opens up vaccination in a phase wise manner, the onsite vaccination will help in saving the hassle for the workers eventually leading to zero-halt operations across all the construction sites."