Sunday, January 11, 2009

Stock Keeps Developers Going

The big builders are anticipating the worst, but for most of them, work is going on. The truckers’ strike has put a stop on the supply of sand, cement and other materials crucial for the construction sector to do its business. Speaking to The Times of India, managing director of Confident Group C J Roy said the transport strike was yet to affect the bigger builders, who had already stocked up on materials. But the fuel crisis was crippling the sector, with most facing difficulty in ferrying labourers and materials around the city or even the site. “We also need to take clients around to sites, this is also being affected,” he added.

There are supplies for the next three days. It’s only after that, if the strike is still on, that the builders fear work will stop. Raj Menda, president, Confederation of Real Estate Developers’ Association of India (CREDAI), said that developers had planned to stock up on materials. “But given space constraints and other issues with stocking materials, most builders would have supplies only for 3-5 days. The exact extent of loss, number of projects that were halted and the actual effect will be known only after a week, when records from various sites are drawn up,” he added.

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