Project Delays the Biggest Dilemma in the Real Estate Market
Apr 18, 2017 Real Estate News
You have been waiting for that perfect house of dreams for years and meanwhile, all that you get to know is that the project has been delayed and the wait has to go on for more time. This could be the worst situation happened to anyone ever.
Government officials are usually accused of making policy decisions as it may look appealing on the papers but may not be the same when it comes to the practical situation. Also, many a times polices end up getting stuck at various stages. Due to which the policy are not implemented on time and it gets difficult to achieve the said targets in spite of spending huge expenditure. Also it’s getting difficult to get infrastructure done at the large scale for the purpose of urban development. Our Prime Minister Narendra Modi has got associated and launched up many projects it does not mean only launching projects will alone do the work but it also requires support from union and the states. Now the authorities are much aware and doing their best as such huge projects incur a lot of cost and government cannot afford to miss on them. Real estate developers are also trying their best to support them and give their project before their committed dates as they want to win public confidence and maintain their reputation in public.
Steps have been taken by the Union Urban Development Ministry to set up district-level committees and to assign with the responsibility of monitoring urban infrastructure development projects. It’s the great move towards development as such committees will look behind the national schemes like Atal Mission for Rejuvenation and Urban Transformation, the Pradhan Mantri Awas Yojana, the National Urban Livelihood Mission, the Clean India Mission, and the Heritage City Development and Augmentation Yojana. As the responsibilities have been divided in the hands of district levels panels it gets easier to work upon and to keep an eye on the work done.
Other major causes to be held for the project delays:
Government officials are usually accused of making policy decisions as it may look appealing on the papers but may not be the same when it comes to the practical situation. Also, many a times polices end up getting stuck at various stages. Due to which the policy are not implemented on time and it gets difficult to achieve the said targets in spite of spending huge expenditure. Also it’s getting difficult to get infrastructure done at the large scale for the purpose of urban development. Our Prime Minister Narendra Modi has got associated and launched up many projects it does not mean only launching projects will alone do the work but it also requires support from union and the states. Now the authorities are much aware and doing their best as such huge projects incur a lot of cost and government cannot afford to miss on them. Real estate developers are also trying their best to support them and give their project before their committed dates as they want to win public confidence and maintain their reputation in public.
Steps have been taken by the Union Urban Development Ministry to set up district-level committees and to assign with the responsibility of monitoring urban infrastructure development projects. It’s the great move towards development as such committees will look behind the national schemes like Atal Mission for Rejuvenation and Urban Transformation, the Pradhan Mantri Awas Yojana, the National Urban Livelihood Mission, the Clean India Mission, and the Heritage City Development and Augmentation Yojana. As the responsibilities have been divided in the hands of district levels panels it gets easier to work upon and to keep an eye on the work done.
Other major causes to be held for the project delays:
- One of the most important causes of project delay has been the clearance of documents from municipal corporation authorities, officers and sometimes even politicians.
- Project needs to be re worked upon due to errors during construction may be which happened due to poor communication and coordination.
- Ineffective planning and scheduling of the project which also leads to the delay.
- Contactor and technical staff not being enough qualified to handle the project and also work consultant having inadequate experience.
- Differences in design and unclear and inadequate details in drawings.
- Shortage of raw materials, delay in delivery, and an increase in the prices of raw material also leads to delay of the project.
- Breakdown or shortage of work equipment’s, low productivity and efficiency of equipment’s also leads to project delays.
- Shortage of labour, personal conflict or strike of labour.
- Whether change also affects the construction activities delaying the project.
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