FM meets realtors, homebuyers; govt. assures steps to boost liquidity, demand

TIL Desk/Business/New Delhi/ The government on Sunday said it will soon address issues affecting the real estate sector after industry bodies and homebuyers met Finance Minister Nirmala Sitharaman to flag their concerns regarding liquidity crunch, demand slowdown and stalled projects.

The finance minister on Sunday held two separate meetings — the first with the two apex realtors’ industry bodies CREDAI and NAREDCO, and the second with homebuyer associations, to discuss the issues concerning the real estate sector and steps to be taken to strengthen the industry.

Housing and Urban Affairs Minister Hardeep Singh Puri, Minister of State for Finance Anurag Thakur and top officials from the departments of economic affairs, revenue, housing, CBDT, corporate affairs and RERA were also present in the meetings.

According to sources, representatives of CREDAI and NAREDCO said that there is “unrest” in the sector because of liquidity crunch and poor sales, and demanded that banks and NBFCs should be encouraged to fund projects.