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Quote on Finance Minister Nirmala Sitharaman announcement

Further to today’s announcement by FM’s Press Briefing on special economic package announced by Mr. Modi , enclosed is a quote on behalf of CBRE, for your consideration. Request you to attribute this to Mr. Anshuman Magazine, Chairman & CEO - India, South East Asia, Middle East & Africa, CBRE.

“Hon’ble Finance Minister Nirmala Sitharaman today introduced progressive provisions for the MSMEs, NBFCs, contractors and real estate project registrations. The announcement to treat COVID-19 as an event of ‘Force Majeure’ and as an ‘Act of God’, and permission to extend project completion timelines and other statuary compliances under RERA by 6 months is a positive step for the developer community. It will enable them to deliver projects to the end consumer under the new timeline. In addition to this, the announcement of liquidity measures for NBFCs and HFCs is also an encouraging step and will provide much needed relief to the sector.”

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