“No serious impact of Omicron on Indian real estate,” CREDAI | New Delhi | SURFACES REPORTER Realty Update

Amid the growing concerns of the new Omicron variant, the Confederation of Real Estate Developers’ Associations of India (CREDAI) has stated that there will be no major threat to the real estate sector of the country and has urged the government to exempt the sector from taking a future stringent steps including curfew or lockdown. A report by SURFACES REPORTER (SR).

No major delay; construction happening on time

Stating that the construction is happening as planned; the real estate body has confirmed that the new Omicron variant will not have a major impact on the sector.


According to the statement released, CREDAI is also not expecting any significant delay in the construction pace in the construction and delivery too shall happen on time barring there is a significant rise in the infections in the months to come, it said in a statement.

The statement also said that the developers have learnt from the previous two waves of the pandemic and are fully prepared to manage any disruption pertaining to supply chain and labour supply to a large extent. The construction in ongoing projects is continuing as planned so that homebuyers can get possession on time.

Harsh Vardhan Patodia, president, CREDAI, says, "New project launches too won’t be affected. However, we would urge the government to exempt real estate and construction from any future lockdowns or curfews as halting construction activity will have a severe impact on construction workers and economic recovery too."

"At our end as well, we are actively monitoring the on-ground situation with respect to the new variant and are hopeful that its impact will be much lesser than the second wave of the pandemic. We have introduced few measures to contain the spread by encouraging our member developers to leverage the power of digitization and follow rigorous COVID safety guidelines at their offices and projects,” he added.

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