The Bandh called by the ruling parties of Maharashtra seems to have less or very little impact on the real estate industry.
By Varun Singh
The ruling alliance or the MahaVikas Aghadi (MVA) had called a bandh in the state of Maharashtra on Monday.
The bandh was a reaction to show solidarity for the death of protesters of the Farm act in Uttar Pradesh’s Lakhimpur Kheri.
Most work in real estate industry remained impacted especially transpiration work, which included getting the ready mix or other items like steel, tiles and others.
At sites where the construction workers stay indoors, minor works continued.
A project manager form South Mumbai said, “Minor works inside the project site continued but no major work could be carried out as the transportation was impacted.”
The impact was also seen in interior works as the hardware supply shops and once again transportation was impacted.
However, if one has to really gauge how real estate functioned during bandh, then one should see the number of sales that took place in Mumbai on Monday, the day the bandh was called by Shiv Sena, NCP, and Congress.
On Monday in Mumbai a total of 355 sales was registered. E-registration of 965 leave and license agreement took place, while 94 physical leave and license were registered.
Not only this, 63 gift documents were registered and 34 Will were registered too.
In the 11 days of October total 2408 sales were registered so an average of 218 sales took place daily.
Going by this logic on Monday when 355 sales were registered the bandh seems to have had zero impact on real estate sales.
In the 11 days a total revenue of Rs 146.84 crore was registered in Mumbai city.
The real estate industry had suffered heavily during the first wave of COVID-19 and also during the second wave the two months sales was impacted.
The industry is slowly jumping back on feet and the sales even during bandh day has shown that the real estate industry will bounce back.