UP constitutes panel to reboot real estate sector amid coronavirus crisis

A large number of housing and commercial projects are lying stuck in UP. Besides, the ongoing projects are also witnessing cancellations by investors and buyers because of the dip in earnings

At a time when the real estate sector facing stress due to the Covid-19 lockdown and flight of labour, the Uttar Pradesh government has constituted a panel to resolve the woes of builders and real estate developers.

According to UP industrial development minister Satish Mahana, the panel has been asked to analyse the ground situation of realty and submit a report within a week for possible action.

“The realty sector was already facing problems and now the lockdown has posed fresh challenges. I have asked the UP infrastructure and industrial development commissioner (IIDC) and the heads of the industrial development