RERA to Approach RBI for Loan Restructuring for Real Estate Sector
The All India Forum of Real Estate Regulatory Authorities (AIFORERA) is planning to approach the Reserve Bank of India (RBI) to request for an one-time loan restructuring for the real estate sector, taking a cue from a similar aid extended to the micro, small and medium enterprises segment by the central bank.
The two leading industry bodies, Confederation of Real Estate Developers Association of India (CREDAI) and the National Real Estate Development Council (NAREDCO) have said that developers are either not getting fresh loans or even loan top ups, which in turn, has hurt construction activity of existing projects.
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