Home / Economy / News / RBI move to allow loan recast at project level to benefit realtors: Experts

RBI move to allow loan recast at project level to benefit realtors: Experts

Move will help restart projects stuck due to Covid-19. Both buyers and developers will stand to gain when these projects eventually see the light of day

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Permitting banks to restructure loans on the basis of the “project” will be a breather for many developers

2 min read Last Updated : Oct 15 2020 | 6:50 PM IST

The RBI’s permission to banks to restructure the loans of real estate companies at the project level rather than at the entity level is expected to help buyers and developers, consultants and developers have said.

The moratorium on loan repayments for developers ended on August 31, 2020.

"It is indeed a good move. It will help restart projects stuck due to the impact of the Covid-19 pandemic. Both buyers and developers will stand to gain when these projects eventually see the light of day. From a buyers' standpoint, they will no longer have to wait indefinitely for their homes. As for developers,

Topics : Reserve Bank of India loan refinancing RBI Real Estate Real estate firms housing projects

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