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« DLF to Adorn Bengal with Rs 100,000 cr Realty Projects | Home | Rents in Nariman Point Leave Manhattan Behind »

Shortage of Domestic Contractors for Handling Realty Projects

The task of completing pipeline projects on time can be challenging for the real estate developers, finds Prabhudas Liladhar, a leading equity broking house in India.

Since domestic contractors are already burdened with work of infrastructure development, the execution of projects could be put on hold, says the report.

Searching for an experienced domestic contractor is becoming an uphill climb for real estate developers. The contractors workforce in India is believed to be highly fragmented consisting of many small size firms with low skill levels.

And, there are a few quality contractors in India who are proficient in handling large real estate projects, says Kunal Banerji, vice-president, corporate communication and marketing, Ansal API.

Nowadays, contractors are also trying to start off their own infrastructure projects. Most of the contractors in India are currently working on big projects in Vietnam, Malaysia, and Gulf.

Lack of domestic contractors is forcing the real estate firms to look forward to cross-borders to fulfill the requirements. Ansals has recently join hands with a firm in Thailand to develop a project in Lucknow.

DLF Ltd will develop 50 million sq. ft annually over the next few years. The company has so far developed 250 million sq. ft. It is ramping up its expertise in property development business, says Rajeev Talwar, Group Executive Director.

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