Vice President, PHD Chamber of Commerce and
Industry, Mr. Rajeev Talwar on Thursday appealed to the government to come out
with a concept of ‘kick start loans’ for real estate developers, especially for
those whose projects are stuck up as also make a provisioning of a loan at the
rate of 6% for buyers that have invested their hard earned money in such
projects so that their re-launch becomes conclusive.
Speaking at a RERA Reality Conference for
Making New India under aegis of PHD Chamber of Commerce and Industry here
today, Mr. Talwar held that two reforms namely GST and RERA that have happened
in post independence history of India are critical for India’s higher GDP which
will also ensure prosperity and employment for large chunk of its people.
Mr. Talwar appreciated and welcomed efforts
that led to creation of RERA as it would induct transparency in the real estate
and construction sector, especially the beneficiary would be the consumer and
builders that indulge in malpractices be punished severely.
The Vice President of the Chamber, who is
also the CEO & Whole-Time Director of DLF Ltd. said that with ‘kick start
loans’, the stuck up projects in the real estate sector could be re-launched
with additional liquidity as many of them are held up for want of money for
which the suggested loans could be of great use.
He also mooted the idea that buyers who have
poured in their money in such projects should be given loans at the rate of 6%
as a vast number of them have already spent their money on stuck up projects
and paying off large EMIs on them. The
soft loan for them would come as a great relief and the builders would be able
to generate liquidity to finish off construction in such projects.
Speaking on the occasion ED, RERA, Haryana,
Mr. Dilbag Singh Sihag and Director, RERA, NCT of Delhi, Mr. Vivin Ahuja
praised the RERA legislation driving home the point that its violation would
attract harsher penalties and would lead to a win-win situation for both
developers and buyers.
Senior BJP Leader, Mr. R P Singh who presided
over the conference in which the Secretary General of the PHD Chamber, Mr.
Saurabh Sanyal and Editor, Reality & More, Mr. Palash Roy were also
present, however, praised the initiative of the PHD Chamber for organizing such
a conference.
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