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Govt relief to developers: Homebuyers may end up paying additional interest

covid-19 2020 pandemic Government
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In order to provide respite to developers struggling to complete their projects due the covid-19 pandemic, the government on Wednesday extended the deadline for registration and completion of projects under the Real Estate (Regulation and Development) Act, 2016 by six months.

This is for projects, whose deadline is expiring on or after 25 March, 2020. Even as the move provides relief to the developers, the extension of the deadline for the completion of projects may also mean extra interest burden for homebuyers, as they will have to continue servicing their home loans for this extended period as well as pay rent as their wait for home gets longer. “The government has basically legitimised the delay even if the delay may not have been

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United States
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India
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Brazil
Cases: 21 835 785
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United Kingdom
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Russia
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