CREDAI's statement on Supreme Court refusal to extend loan moratorium amidst covid second wave.

 

“We appreciate the view of Hon’ble Supreme Court for guiding the matter of extension of loan moratorium for a period of six months this year to the Reserve Bank of India. In line with the representation made to the apex court, we feel due relief for borrowers is an absolute necessity considering the prolonged impact of the second wave of the pandemic, and consequent financial stress borne by individuals and businesses due to loss of employment and business opportunities. With the real estate sector being more severely impacted in 2021 as compared to 2020, as the apex industry body, CREDAI has already made separate representations to RBI and the Government of India on the matter.”

 

About CREDAI

Established in 1999, The Confederation of Real Estate Developers’ Association of India, is the apex body for private real estate developers in India, representing over 13,000 developers through 21 states and 217 city chapters across the country. CREDAI has worked hard to make the industry more organized and progressive by networking closely with government representatives, policymakers, investors. CREDAI works towards the improvement of ethical standards & business practices in real estate. CREDAI is well-recognized by the Central and State Governments in all its endeavours.