Developers Struggle to find Quality Contractors amid housing boom 

Real estate developers are finding it tough to get the right contractor for construction to ensure quality and timely delivery as the number of launches has doubled to approximately 1.25 lakh housing units across top seven cities every quarter from 60,000 before the Covid-19 pandemic. Many developers are boosting in-house capabilities while some are getting global contractors to ensure there is no delay in project delivery, industry insiders told ET. Some are also engaging construction tech companies. TARC Ltd recently appointed Abu Dhabi- headquartered Arabian Construction Company as the principal contractor for its luxury residential project TARC Kailasa in Central West Delhi and the upcoming TARC 63A in Gurgaon, while Trehan Iris said it is boosting in-house construction capabilities and partnering with global contractors. According to Anarock data, 2.36 lakh housing units were launched in the top seven cities in 2019, which dipped to 1.27 lakh in 2020 largely due to Covid and increased again to 2.36 lakh in 2021. The number rose to 3.57 lakh in 2022 and reached a record high of 4.45 lakh units in 2023. This year, it is expected to breach the 5-lakh mark.  Industry body Confederation of Real Estate Developers Associations of India (Credai) said appropriately skilling workers and developing a regulatory framework for them is the key to improve quality and speed of construction. 

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