Sharad Pawar seeks PM Modi's intervention to revive real estate sector

The massive "outflux" of labourers, stoppage of work and sales for almost three months, stagnant demand and impaired economic activities have taken a toll on this industry "which contributes substantially to the national GDP", he said.

PTI

May 28, 2020 / 19:45 IST

NCP chief Sharad Pawar has written to Prime Minister Narendra Modi saying that the real estate sector is in a state of "complete breakdown" amid the lockdown and Modi should look into the issue personally.

In the letter dated May 27, Pawar demanded that the prime minister undertake measures to revive the sector which has been hit hard.

"Amidst unprecedented pandemic COVID-19 and consequent nationwide lockdown, the Real Estate Sector is in a state of complete breakdown," Pawar said in the letter, which he shared on Twitter on Thursday.

The massive "outflux" of labourers, stoppage of work and sales for almost three months, stagnant demand and impaired economic activities have taken a toll on this industry "which contributes substantially to the national GDP", he said.

The Confederation of Real Estate Developers Association of India (CREDAI) too has written an open letter to Modi about the crisis and requested his immediate intervention, the former Union minister noted.

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