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Extend force majeure benefit to homebuyers too: BJP MP and FPCE write to housing minister

May 11, 2020 09:44 PM IST

The interest component of the home loan should be waived during the force majeure period and builders should bear the interest part until homebuyers receive possession, the letters said

Representative image

Homebuyers have opposed the Central Advisory Council (CAC) decision to grant suo-motu extension of six months to all RERA registered projects. They added that if the force majeure benefit is extended to builders, similar benefits should also be granted to homebuyers.

FPCE has been supported by BJP MP Rajeev Chandrasekhar.

In a letter to Housing and Urban Affairs Minister Hardeep Puri, BJP Rajya Sabha member from Karnataka Rajeev Chandrasekhar said just as relief is being given to builders, homebuyers who are undergoing unimaginable economic hardships due to the COVID-19 lockdown need protection.

"The interest portion of the loan should be waived for homebuyers. For no fault of the buyers, they need not pay both rent and equated monthly installments (EMI)," the MP said.

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