May 20, 2021

Realty Developers Seek Assistance from RBI to Counter COVID-19 Second Wave

Realtors have requested the Reserve Bank of India (RBI) to consider allowing loan restructuring, interest curbs and additional liquidity infusion into the realty sector. This happened to be in a row just after RBI Governor Dr Shaktikanta Das announced COVID-19 relief measures for startups, SHGs and MSMEs. RBI Governor announced a slew of schemes and measures to be implemented which includes the second round of loan restructuring and other relief measures, grant of a term liquidity facility worth INR 50,000 crore for the healthcare sector and SLTRO.

Recently, CREDAI has also requested similar measures to be implemented which shall address concerns of large business setups and labour-driven industrial sectors like the realty sector. The measures will expectedly be announced in days to come by.

While addressing the media channels, Mr Harsh Vardhan Patodia, president of CREDAI has mentioned the measures to offset the effects of the second wave. He further added that classified accounts vis-a-vis SMA 1 and SMA 2 are also eligible for restructuring and interest curbs coupled with liquidity infusion which are applicable under ECLGS 3.0 version. The measures will prove sufficient to kick-start the economy and boost the employment generation which will cater to shield against the effects of the second wave of COVID-19

Subscribe
@
Top Builders in Bangalore: List of Real Estate Developers

Bangalore, also known as the “Silicon Valley of India,” is a vibrant and diverse city that attracts people of diverse demographic characteristics. As the hub for IT business, with superior infrastructure and a cosmopolitan standard of living, this city has also become the epicentre for real estate investments. Whether it is high-end apartments or affordable houses, the requirement for residential properties is rising continuously. Therefore several leading real estate developers have been

Prestige E City: Luxury Living for Families & Professionals

Prestige E City is an innovative residential development, located in the vibrant Electronic City of South Bangalore. This project is one of its kind – envisioned to suit the fast-paced lifestyles of today’s families and working individuals. Designed with a lavish lifestyle in mind, this project is developed by the esteemed Prestige Group. This premium development blends luxury, convenience, and connectivity, creating a sanctuary for those in pursuit of an elevated lifestyle.   D

Simple Techniques to Identify Your House Facing Direction

Complete Instructions for Determining Your Residence's Directional Alignment.  Begin by positioning yourself at the main entryway or principal access point. This location serves as your reference point for analysing the dwelling's positioning. Utilise a magnetic navigation tool to precisely identify the alignment. Maintain the instrument level and steady in your grasp. Keep the compass level and stable in your hands. The navigator gadget will indicate True North.

↑