No impact of the omicron variant to date on the real estate market: CREDAI

Real estate agent organization CREDAI said on Friday that the new Omicron variant had not impacted the real estate market so far and that sales volume growth is expected to continue.

“There has been no significant impact of the new Omicron variant on the Indian real estate market and the growth momentum after the festive sales is expected to continue,” CREDAI said in a statement.

Up to 25 cases of the Omicron variant of COVID-19 have been reported so far in India.

For the moment, CREDAI has indicated that it does not expect a disruption in the pace of construction of the project. Project deliveries will also remain unchanged unless there is a significant increase in infections in the coming months.

Credai Chairman Harsh Vardhan Patodia said, “Developers have learned from the previous two waves of the pandemic and are fully prepared to deal to a large extent with any supply chain and supply disruption. labor. “

He urged the government to exempt real estate and construction from any future lockdowns or curfews.

“From our side, too, we are actively monitoring the situation on the ground with regard to the new variant and hope that its impact will be much less than the second wave of the pandemic,” Patodia said.

The association has asked its roughly 13,000 member developers to follow rigorous COVID security guidelines in their offices and projects. They were also advised to harness the power of digitization.

Penny D. Jackson