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Budget 2023
Budget 2023

COVID-19 economic task force should ensure interest of homebuyers, stakeholders is protected, say realtors

EMIs payable by homebuyers as well as dues from developers be deferred for a year: Credai MCHI

With Prime Minister Narendra Modi announcing the setting up of a 'COVID-19 Economic Response Task Force' to decide on a relief package for sectors hit by the coronavirus outbreak, has recommended that EMIs payable by homebuyers as well as dues from developers be deferred for a year.

The sector, that anticipates construction work to come to a halt and sales to be hit, has also recommended that no stamp duty should be charged for a period of six months and a property tax abatement be given for a year.

Prime Minister’s address reflects the government’s acknowledgement of the severe implications of the ongoing COVID-19 outbreak on 130 crore citizens of India, numerous industries and overall economy alike, realtors said.

“The formation of special central committee - Govt’s COVID economic response taskforce under the able leadership of Union Minister of Finance, will open doors for discussions on economic challenges faced by us,” said Nayan Shah, president, CREDAI MCHI.