Govt move to extend project timelines will help stressed realtors: Experts

Home buyers, on the other hand, will have to wait longer to take possession

The government's move to extend the timeline for project completions and registrations by six months is expected to help distressed developers in a big way, though homebuyers may have to wait for some time to get possession, experts said.
 

“This is indeed a move to combat the Covid-19-led disruption, which brought construction work to a grinding halt with additional chaos of migrant labourers' movement and a disruption in the supply of raw materials,” said Niranjan Hiranandani, managing director, Hiranandani Group.
 

Hiranandani, however, said liquidity infusion is imperative to alleviate the depressing scenario for the sector.

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