SC ruling on home loans to boost NCR realty market sentiment.

The Supreme Court ruling for releasing outstanding sanctioned loans to Amrapali homebuyers will boost realty market sentiment in the NCR.

The SC has directed RBI to release sanctioned loans to Amrapali homebuyers, notwithstanding their accounts declared NPAs. The SC has further ruled stage-wise and long-term restructuring of loans to facilitate loan repayment by buyers. This is also meant to ensure completion of construction of 45000 stalled Amrapali homes. NBCC has fast-tracked the execution of stalled homes by floating tenders for 11 of 23 projects. The public sector builder is set to deliver 10000 flats by June 2021.

Says Mr. Pradeep Aggarwal, Founder & Chairman, Signature Global & Chairman, Assocham, National Council on Real Estate , Housing & Urban Development, ” The SC ruling assumes great significance in the current crisis time. The resumption of loans to home buyers will bolster their confidence. This, together with NBCC fast-tracking construction of stalled projects, will improve market sentiment, boosting Noida, Greater Noida realty.

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