Builders asking for support of RBI to deal with Covid second wave

Posted on May 6, 2021 by zeeshan

Builders have urged the Reserve Bank of India (RBI) to consider a loan restructuring, a moratorium on interest payments, and extra liquidity support to the real estate sector. This comes after RBI Governor Shaktikanta Das announced on Wednesday a covid relief package for individuals, small businesses, and MSMEs.

The RBI Governor has mentioned a number of measures and arrangements in his statements. Such as the second round of loan restructuring and other relief measures as well as the term liquidity facility of about Rs 50,000 crore for healthcare and SLTRO for Small Finance Banks. The central bank also recognized the difficulties faced by individuals, small businesses, and small and medium-sized enterprises. Due to downsizing, and provided resolution 2.0 measures to restructure loans to small borrowers of up to Rs 25 crore.

CREDAI encouraged and hoped that similar measures would be announced in the coming days. To address the problems of large companies and labor-intensive sectors such as real estate.

It is hope that RBI consider real estate sector as well!

This was stated by the President of CREDAI Harsh Vardhan Patodia. We are convinced that the measures that make accounts classified as SMA 1 and SMA 2 also suitable for restructuring. An interest rate moratorium together with additional liquidity under ECLGS 3.0 transferred to real estate projects will help in reviving the economy and create jobs that are most important to compensate the influence of the second wave.

This was stated by the President of NAREDCO, Niranjan Hiranandani. The RBI governor announced a number of plans. Including the second round of loan restructuring and other relief measures, steps in the right direction. It is hoped that he will also look at industries as real estate that need similar support in these difficult times. We expect consistent, calibrated, and timely action across industries such as real estate.

Samantak Das, chief economist and head of Research & REIS, JLL India said. Apart from individual borrowers, this will be of great help to SMEs associated with the real estate sector, especially resource providers for this sector.

Foreign retailers likely to postpone India Entry, JLL

Posted on May 16, 2013 by designer

Asia Pacific Property Digest, the quarterly report of JLL India, states that the foreign retailers may postpone their India Entry by one or two years.

With the foreign direct investment policy of the central government, the realty developers were expecting foreign retailers to set up their outlets and stores in India. Developers thought they could find some takers for their vacant spaces in their shopping mall projects. Continue reading →

Indian Realty Market To Have Vast Foreign Investment: JLL

Posted on January 28, 2013 by designer

Jones Lang LaSalle, global real estate consultancy firm, reported that foreign investors will invest nearly $4-5 billion in the Indian realty market. JLL added that Bangalore, Delhi and Mumbai remain the favorites of foreign investors.

Indian realty Market attracts more foreigners.

According to the real estate consultants Jones Lang LaSalle foreign investors are planning to invest around $4-5 billion in the Realty market of India. While speaking in an interview, Mr. Alastair Hughes, CEO at JLL Asia Pacific, said that the foreign investors are keen now to interest in realty market of India.

He added that Indian realty market offers better returns to the investors. He was visiting India to participate in the World Economic Forum Annual Meeting. According to him the foreign investors will invest mainly in Bangalore, Delhi and Mumbai as these cities assure higher returns to the investors. Continue reading →

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