Hit by coronavirus lockdown, residential builders stare at a bleak 2020

CREDAI-MCHI, a body of developers in Mumbai, has pegged the drop in sales booking at around 80 per cent in the February-March period this year

We did very few deals (sales) after the lockdown was announced. Who will come to do booking in these times,” said Niranjan Hiranandani, managing director of the Mumbai-based Hiranandani group, one of the largest developers in the country.
 

Hiranandani has online response teams, which are on the job in the residential properties space.
 

Another top Mumbai developer said he had seen a huge drop in sales since April 1. “If the lockdown was not there, we would have done good sales during this time of the year,” he said.
 

Sandeep Runwal, director at the Runwal group, said the company had