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Thursday, 14 May 2020
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Arvind Subramanian, CEO, Mahindra Happinest on FM's announcement on real estate

"Good quality and affordable housing is both a basic human need and a public health enabler as we have seen in the patterns of spread of COVID-19. The government’s #AtmaNirbharBharat initiative is visionary and brings to the fore the social and economic significance of India’s real estate sector. The easing of RERA provisions, especially the six-month extension, will help real estate developers better plan operations and ease the disruption caused by the pandemic. This is important since social distancing measures and the restriction of movement at construction sites is expected to impact project timelines.
The Rs 30,000 crore Special Liquidity Scheme for NBFCs and HFCs is also a welcome move. It will ensure banks and NBFCs can continue funding housing projects for developers and mortgages for homebuyers."


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