city New Delhi Government crisis Coronavirus city New Delhi

RERAs should extend project completion timeline by 6-12 months: Report

Reading now: 274
www.livemint.com

NEW DELHI : The Centre should advise the Real Estate Regulatory Authorities in the states to extend the deadline for completion of projects by six months to 1 year in the wake of the disruption caused by the coronavirus crisis and the nation-wide lockdown, according to a report by PHD Chamber of Commerce.

The industry body has also suggested that a moratorium period of six months should be allotted for paying local body taxes like municipality taxes and property taxes.

It also said that ongoing projects can be considered as assets for granting credit to developers. The report further said: "Stamp duty and registration charges on completed flats for a period of around one year should be reduced or waived off.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA