Friday, May 7, 2021

SC Rejects Plea to Extend Loan Moratorium Period : Anuj Puri, Chairman - ANAROCK Property Consultants
Tuesday, March 23, 2021 - 1:41:48 PM - By Anuj Puri, Chairman - ANAROCK Property Consultants
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Anuj Puri, Chairman - ANAROCK Property Consultants
The Supreme Court’s rejection of the plea from various trade associations and corporate bodies to extend the six-month loan moratorium period given by the RBI may not have a major impact on real estate as such.

As noted, towards the end of 2020 the overall percentage of those who availed the loan moratorium benefit was not as significant as anticipated. Moreover, continuing the loan moratorium for retail investors is not as beneficial as switching to the prevailing lowest-best home loan rates.

Banks have their limitations in their ability to extend this benefit as ultimately, it will impact overall business and profitability.

The last two two quarters – Q4 2020 and Q1 2021 – have seen robust housing sales wherein many buyers have been capitalizing on tge low home loan rates, government sops and developer discounts.
Supreme Court
Rejects
Plea
Extend Loan Moratorium Period
Anuj Puri
Chairman - ANAROCK Property Consultants