#RealtyNewsRoundup: Loan Borrowers To Get 60-Day Breather From RBI

Realty News Roundup is PropGuide's selection of the day's top stories from the real estate sector.

In view of the cash crunch being faced by borrowers, the Reserve Bank of India gave a 60-day window for repayment of housing, car, agricultural and other loans worth up to Rs 1 crore. The central bank said the guidelines are applicable to loans payable between November 1 and December 31 only.

The Mumbai Port Trust has told the Brihanmumbai Municipal Corporation that it does not want reservations imposed for affordable or low-cost housing on its properties because it has plans in place to resettle slum dwellers. One of the city's largest landowners, the trust controls 752 hectares of land along the eastern seafront.

The Centrum group has received the licence from regulator National Housing Bank to start a housing finance company. The company, which is being spearheaded by former Standard Chartered Asia head Jaspal Brinda, is looking to tap into Tier-II and Tier-III cities. A formal announcement in this regard is expected today.

Rajasthan government's local self-government department will soon bring amendments in the Rajasthan Rent Control Act (2001) after a gap of 15 years. Under the proposal, the new act will be applicable to all the cities in the state. The move is aimed at increasing the income of local bodies with revised rent and more properties under its ambit.

Source: Media reports