Perspective on the announcement made by the Finance Minister on Real Estate Sector by Mr. Shishir Baijal, Chairman & Managing Director, Knight Frank India
“Today’s
announcement by the Finance Minister was eagerly awaited by the real
estate sector hoping to receive a new lease of life mostly from
challenges emanating from liquidity and demand challenge. To enhance
liquidity support and to assuage risk concerns a further expansion of
partial credit guarantee scheme for the NBFC/ HFCs has been provisioned.
This will hopefully enthuse lenders to look at the sector favorably. On
the lockdown related impact on labour shortage and construction delays,
extension of registration and completion date of real estate projects
under RERA by 6 months will provide some relief to the sector.
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| Mr. Shishir Baijal, Chairman & Managing Director, Knight Frank India |
We now
await to hear the subsequent announcements, that could resurrect demand
and also boost Infrastructure sector, to make a complete assessment of
the impact on the real estate sector.”
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