Eagerly Awaited Measures By The RE Sector

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. 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.”