CREDAI seeks to reschedule debt repayment, reset loan interest rates.

Issued by: Economic Times | 19 March 2020

To recover from COVID19's financial impact real estate developer association CREDAI is seeking,

  1. to put off the debt for next 3 months and recover the same over next 12 months.
  2. to re-fix interest rate on all real estate project at RBI repo rate
  3. to provide additional fund without additional collateral as buyers are unable to fulfil the commitment
  4. to use Rs 1lac crore fund under BOCW for health and pay loss benefits to construction worker
  5. to declare/treated COVID 19 India as 'force majeure'

CREDAI seeks to reschedule debt repayment, reset loan interest rates.



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