In a latest move, the Finance Ministry headed by Ms Nirmala Sitharaman have announced relief measures as a part of reviving the economy. The Union Housing and Urban Ministry have advised States and the Union Territories to extend the registration and completion of real estate projects by six months. This will benefit home buyers, builders and other stake holders who were already demanding these measures. This will also help to counter the adverse effects of the pandemic crisis presently the nation is facing on account of lockdown. This is based on the announcement made by Mr Hardeep Singh Puri, Union Minister for Housing and Urban Department. The six months extension will give sufficient time for the real estate industry for completion of existing projects despite controls imposed by the Central and State Governments in spreading the coronavirus. The registered projects would be given six months extension which were expiring on or after 25th March 2020. A further of extension of three months on the cards.
Let us eagerly wait to for the industry to return to normalcy soon.
Comments
Post a Comment