Realtors body Credai write to PM seeking more funding, loan restructuring

The govt has already extended project completion and registration by six months and extended credit-linked subsidy scheme by a year

The Confederation of Real Estate Developers Association of India (Credai) has written to the Prime Minister seeking additional relief measures for the real estate sector.

It has asked for additional funding from institutions, restructuring of developers loans and reduction of interest rates for housing loans among others

The government has already extended project completion and registration by six months and extended credit-linked subsidy scheme by a year.

Credai said since real estate was reeling under a slowdown before Covid-19, a one-time restructuring should be allowed on all accounts which were standard before December 31, 2019.

The Reserve Bank of India