Barter, flexibly structure payment mechanisms in the form of deferrals is being used in real estate to complete transactions. Allied industries are offering such schemes to developers to complete construction obligations.
By Varun Singh
Barter, flexible payments are the new mantra in the COVID 19 era that allied industries in real estate sector are offering to developers.
A two day webinar organized by CREDAI-MCHI, brought out in open the difficulties that almost everyone associated with the real estate sector is facing, due to the pandemic.
The lockdown induced by the pandemic has caused a slowdown in the over all industry.
The two day webinar E-Biznet saw close to 500 plus companies and organizations attending, the virtual dialogue.
The biggest take away was the industry was trying to find new initiatives to help each other.
A lift company which spoke first, while concluding its presentation informed developers that it was ready to get in to barter and offer flexible payments to the developers.
Also many allied industries were talking about how their products will be of use during times like COVID 19.
A statement from CREDAI-MCHI said, “Given the dire financial situation of developers owing to minimal demand and limited cash flows, presentations made by leading allied industry players included options for developers to flexibly structure payment mechanisms in the form of deferrals whilst providing avenues of barter as a means to complete transactions and fulfil construction obligations.”
The aim of the webinar was to re-initiate and strengthen corporate relationships between real estate developers and its allied industries.
Rajeev Jain, convenor, CREDAI MCHI Biznet, said “By bringing real estate stakeholders on one platform, CREDAI MCHI has re-initiated and enabled B2B conversations to provide a significant stimulus to Indian Real Estate. Building on the success of the first two editions of E-Biznet, we hope to conduct many more such networking meets and opportunities and helping the real estate to arrest the slowdown brought about by Covid – 19.”
CREDAI MCHI President, Nayan Shah, shared his views “CREDAI MCHI takes great pride in
supporting the Indian Real Estate Eco-system and ensuring that all our industrial stakeholders navigate through this pandemic.”