Raw material crunch halts projects, labourers in limbo
The real estate industry employs thousands of unskilled and skilled labourers. The shortage has heavily impacted it. Naveen Cardoza, MD, Marian Projects Private Limited, noted that his ongoing two projects were slowed down due to the shortage. "It has been 45 days without supply. How can one go ahead with the work? It is not possible when there is no raw material. If the situation further worsens, all builders will have to stop their ongoing projects," he said.
"The irony is that raw material is unavailable both in the black market and the legal market. If the deadlock continues, it will affect the local economy. The govt should come up with legal ways to make these raw materials available at the earliest," stressed Rohan Monteiro, MD of Rohan Corporation. He said he deferred 10 upcoming projects due to the ongoing crisis, which lasted 45 days.
Real estate promoters further pointed out that all the construction workers returned to work after a brief summer vacation to the site.
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"We will have to send them back again, or they themselves will go to places which have job opportunities, leaving us further crippled. If we buy M-sand and stones as alternatives to laterite, the cost of construction will rise, which will directly impact home buyers," pointed out another realtor, adding that currently many have stopped plastering work as it needs a good amount of sand.
"The shortage will delay projects.
However, there will be no extension given by the Real Estate Regulatory Authority of Karnataka (RERA)," they stated.
Another realtor, who is currently helping in drafting the sand and laterite stone policy for the region, said that laterite stones are available only in coastal areas and some parts of Malnad. "It was categorised as minor minerals, and a separate policy was planned in 2015. However, even after a decade, there is no concrete policy for it," the realtor pointed out.
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