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Builders offer Unsold flats for Quarantine in Mumbai

06 Apr 2020

Developers and top companies in Mumbai like Godrej Properties and Hiranandani group and even average builders are ready to offer their unsold properties and even semi-constructed properties to local authorities as quarantine facilities.

As per Hiranandani Group co-founder and managing director Niranjan Hiranandani, Developers have stepped forward and offered inventory to the government for quarantine and even 2 available properties in Thane as per their requirement to the municipal corporation. In the same way other developers have also offered it to municipalities,  but these properties are not used till now. 

According to Godrej Properties, they are ready to support government in this this situation to fight in this difficulty but there is no demand till now from the Mumbai local body

As per a report from Mumbai Mirror, even few average developers have offered unsold properties in Mumbai region, as a temporary accomodation for shifting workers. So is followed by Mahindra & Mahindra and offers to the group’s resorts chain Mahindra Holidays to utilise as temporary care convenience.

According to the latest discussion with members of the Confederation of Real Estate Developers’ Associations of India, it is said by many developers that they are ready to help and allow them to use their properties as per their requirement to the local government. So it can be completed or under construction also but if it is not completed then some basic support would be provided like lights, fans, taps and beds.

Some developers have offered available properties, mostly low-income rehabilitation projects, to provide quarantine service to migrant works and needy ones. The plan to utilise quarantine facility is being planned. According to Mumbai municipal commissioner, this plan of quarantine facility will be scaled up if cases of corona increases.Even so, this will not be utilised instantly by BMC and it is the second string plan for the city.

Ideally, inventories cannot be in use, as per legally due to lack of power and water. Builders are trying their best to support in this situation but there would be some difficulties to convert unfinished or unsold properties into quarantine convenience. 

As a result, even developers will be feeling it risky to carry out this plan because after using their properties as a quarantine place for a pandemic so property buyers will get discouraged to purchase it.

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Top preferred locations in Mumbai region by Home Buyers are as below:

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