The country went through several challenges due to the rise in COVID-19 cases in all sectors, be it public or private. If we talk in terms of the real estate business, after the challenging year 2020, the year 2021 came as a ray of hope for all the real estate and construction companies. The industry went through a stagnation period and had to cope with losses due to the lack of demand, labor availability and poor budget investments.
However, in the last few months, the market sentiments witnessed a positive response. There were developments observed in the real estate market, but with the coming of new COVID-19 variants, Omicron has once again raised concerns across the world. Although, there is nothing to panic as of now,we must take all safety measures. The future course of health care action and guidelines will depend on how the medical care preparations are handled to stop the increasing cases. Hence, it is early to predict Omicron’s full impact on the real estate sector in the year ahead.
In the present, the real estate and construction companies in Bihar are facing a challenge to bounce back from the past stagnation phases and fall in the state economy. Although, with the country getting back to normalcy, there was growth in the economy, the third wave with the new COVID-19 variant, Omicron,appears to affect the real estate companies in Patna.
In this scenario, the Mundeshwari Group, a RERA-approved builder, in Patna, is keeping up with its work to complete its ongoing projects to deliver to its customers in time. The Group is taking all the required safety measures within their premises to prevent the rising cases of Omicron.
The real estate business is considered the second-largest producer of employment in the country and the Mundeshwari Group is taking care of its employees even during these difficult times of the pandemic.
