CREDAI writes to PMO about liquidity crunch in realty sector; seeks bail-out package
Updated : October 25, 2018 08:45 PM IST
In its letter to the PMO, the Confederation of Real Estate Developers' Associations of India (CREDAI) has demanded a one-time restructuring of bank loans and creation of a 'stressed asset fund' for completion of real estate projects.
It sought Prime Minister Narendra Modi's intervention "to ease the credit freeze in the Indian real estate sector amidst the lack of availability of funds to developers for completion of real estate projects."
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