Lower interest rates and restructured debt for the developers:Representatives from the Confederation of Real Estate Developers Association of India (CREDAI) will be meeting the RBI Governor D Subbarao next week to demand more Government sops for the struggling real estate sector.
The developers are likely to push for lower interest rates and restructured debt for the developers.
Demands:1) A restructuring of existing debt by way of Financial Institutions (FIs) granting a minimum moratorium period of 12 months
2) Reduced interest rates for home loan borrowers upto Rs 20 lakh should be increased to Rs 30 lakh for customers in metros only. (Pune is not a Metro!)
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