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Fadnavis assures real estate developers to take up their demands with centre

BJP leader Devendra Fadnavis was virtually interacting with representatives of over 15 associations of developers operating in Mumbai Metropolitan Region (MMR).

Fadnavis assures real estate developers to take up their demands with centre
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Leader of Opposition (LoP) in Maharashtra Legislative Assembly and senior Bharatiya Janata Party (BJP) leader, Devendra Fadnavis on Tuesday extended his support to the demands of developers for one-time loan restructuring and financial assistance. 

While responding to an online petition from the Maharashtra Chamber of Housing Industry (MCHI-CREDAI), Fadnavis at a webinar assured that their demands will be taken up with Union Finance Minister Nirmala Sitharaman. 

The petition listed several demands and has been signed by 35,000 developers. Fadnavis was virtually interacting with representatives of over 15 associations of developers operating in Mumbai Metropolitan Region (MMR). 

“Received online petition from CREDAI-MCHI, signed by almost 35,000 developers. The real estate industry requires many interventions from State & Central Government. I have assured them to take their petition to Hon FM @nsitharaman ji ! (sic),” the former Maharashtra Chief Minister tweeted. 

Fadnavis further said that the main issues put forwards by the developers were loan restructuring, pushing banks HFCs and NBFCs to pass on benefits of repo rate cuts to the consumers. 

“I assure all members that these and all issues will be taken up with the appropriate authorities,” he said. 

The senior BJP leader said that the demands made by the developers for one-time loan restructuring was logical and large investments have been made in real estate sectors by banks, NBFCs and HFCs. If these assets are stressed then the money will come in trouble, he added. 

Fadnavis further told that he has been discussing issues related to the real estate and economy at various levels at the centre and was getting a positive response. 

Meanwhile, Sitharaman replied to Fadnavis on Twitter and said that she will receive the petition that he sends her and will give it a fresh and open-minded look.

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