Covid-19: FM interacts with realtors’ body to assess real estate sector’s problems

Sources said that the realtors’ association sought relief from the government to tide over this crisis being faced by the real estate sector due to Covid-19 pandemic.

Finance Minister Nirmala Sitharaman on Friday held discussions with the senior representatives of realtors’ body NAREDCO regarding problems faced by the real estate industry during the current coronavirus pandemic.

Union finance minister Nirmala Sitharaman held an interaction via video conference with realtors’ body NAREDCO on June 19, 2020. (Photo Credit:Nitmala Sitharaman Office @TwitterI)

Maharashtra’s former Chief Minister Devendra Fadnavis was also present in the closed-door meeting held through video conferencing.

“Smt @nsitharaman interacts with the senior members of the National Real Estate Development Council (NAREDCO) via video conference. Shri @Dev_Fadnavis, Former Chief Minister of Maharashtra also joins the interaction,” said a tweet put out by the finance minister’s office.

Sources said that the association sought relief from the government to tide over this crisis. NAREDCO members demanded one-time debt restructuring for the industry, last-mile funding for the stuck projects and lowering of interest rates on home loans to boost housing demand.

NAREDCO chairman Rajeev Talwar, its President Niranjan Hirnandani and Vice Chairman Parveen Jain were present in the conference. NAREDCO UP President R K Arora also participated.