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    Reactions of Real Estate Developers & Experts on Lock Down Extension

    Published on April 14, 2020

    Mr. Dhruv Agarwala, Group CEO, Housing.com, Makaan.com and PropTiger.com

    Considering that the risk of the spread of the Coronavirus is still high, it was the right decision on the part of the Government to extend the lock-down. However, it is quite obvious that this will have a further adverse impact on the economy that is already under severe stress. We sincerely hope that the Government will, at the earliest, announce a relief package for businesses, many of which are struggling to stay afloat with revenues coming to a virtual standstill.

    Deepak Kapoor, Director, Gulshan Homz

    Tough situation calls for tough measures. Considering the current scenario, extension of lock down was very much expected. No doubt, it will adversely impact the economy. To curb the impact, Government must announce one-time restructuring of loans and extend the moratorium on loans to at least six month.

    Sagar Saxena, Project Head, Spectrum Metro

    Considering the overall risk, it was expected that lock down will be extended further. We will comply by it in letter and spirit. However, considering the adverse economic impact, Government must announce a relief package for the industry at the earliest.

    Dhiraj Jain, Director, Mahagun Group

    At this need of the hour, we stand firmly behind PM’s decision to extend lock down. As a responsible corporate citizen, we will abide by it. At the same time, it is well acknowledged that the lock down has an adverse economic impact. Thus, it is pertinent that Government should announce measures that would help revive the sector at the earliest once situation normalises.