Construction activity

Real estate woes

Print edition : November 24, 2017

According to independent estimates, Delhi sees over six lakh people coming every year in search of jobs, and demonetisation meant this workforce was suddenly left without work. Here, families that have migrated from rural areas, especially in Chhattisgarh, Odisha and Bihar, outside the New Delhi railway station on November 1. Photo: V. Sudershan

After demonetisation, many brick kilns experienced a slowdown in activity. With owners out of cash and unable to pay daily wage labourers, they were not able to hire as many workers as were generally employed to produce or transport bricks. A December 2016 photograph of a kiln in Delhi. Photo: Kamal Narang

As if demonetisation was not enough to break the back of the real estate sector, RERA and GST followed. Experts say it will take a minimum of two years for the sector to recover.
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