The lockdowns have stalled construction activity and will lead to project delays in the future, but this is a reality the sector must accept and live with," said Anuj Puri, Chairman – ANAROCK Property Consultants.
2020欧洲杯投注开户Considering the ingredients of a ‘force majeure’ event and the fact that COVID-19 has world-wide led to a situation which is far worse than SARS and Ebola, it should be conclusively categorised as a ‘force majeure event’
2020欧洲杯投注开户CREDAI wants all EMIs payable by residential homebuyers as well those due from developers to be deferred by 12 months. The industry body is seeking zero stamp duty for 6 months and removal of property tax for the next one year.
"In view of Covid-19, the office of the receiver has decided to suspend and cancel the meetings with homebuyers until March 31, 2020. People are at liberty to send mails," the court receiver R Venkataramani appointed by the Supreme Court said in a statement posted on his blog.
The industry body has written a letter to Minister for Housing and Urban Affairs Hardeep Singh Puri seeking a bailout package. Giving details about the impact of coronavirus scare on Indian real estate, CREDAI said sales velocity and the receivables have been hit drastically leading to default/delay in fulfilling financial commitments (interest & principal).