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Under Construction Projects - Possession to be delayed because of Rains

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  • Under Construction Projects - Possession to be delayed because of Rains

    Under Construction Projects - Possession to be delayed because of Rains

    The heavy rains in Mumbai will have an adverse effect on the construction industry, which will have a set back to damage of construction material, equipment and delay in getting the entire supplies.

    Most of the projects which are underconstruction will be faced with a challenge in different stages and the possession of the properties will be delayed anywhere from 15 days to 1 month.

    The construction activity does slow down during monsoon, but it is never that the work comes to a complete halt. The impact on housing of workers, flood like situation and other factors have forced the constructions to come to a compelte halt.

    Most of the builders, consultant, stamp duty offices have reported of 10% of work over the past 5-6 days.

    It will take a little time to bounce back and what has only happened here is that the entire property market which was buzzing with activity has come to a stand still and it will take a good 15 days to 1 month to have the pulse back.
    News source:
    http://www.mumbaipropertyexchange.co...l.asp?news=117

    Regards
    "There's one way to find out if a man is honest-ask him. If he says 'yes,' you know he is a crook." Groucho Marx
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