COVID-19: FM interacts with NAREDCO members to assess realty market situation

New Delhi: Finance Minister Nirmala Sitharaman on Friday held discussions with the senior representatives of realtors' body NAREDCO regarding problems faced by the real estate industry during the current coronavirus pandemic.

Maharashtra's former Chief Minister Devendra Fadnavis was also present in the closed-door meeting held through video conferencing.

"Smt @nsitharaman interacts with the senior members of the National Real Estate Development Council (NAREDCO) via video conference. Shri @Dev_Fadnavis, Former Chief Minister of Maharashtra also joins the interaction," according to a tweet put out by the finance minister's office.

Sources said that the association sought relief from the government to tide over this crisis.

NAREDCO members demanded one-time debt restructuring for the industry, last-mile funding for the stuck projects and lowering of interest rates on home loans to boost housing demand.

NAREDCO chairman Rajeev Talwar, its President Niranjan Hirnandani and Vice Chairman Parveen Jain were present in the conference. NAREDCO UP President R K Arora also participated.