New Delhi, May 18, 2020: The government, to infuse growth into the country’s ailing real estate industry, permitted the invocation of Force Majeure clause during the COVID-19 period, along with an extension of registration and completion date suo-moto by 6 months for all registered real estate projects expiring on March 25, 2020. While this move may not completely salvage the industry from the economic shocks that it is in, they are likely to provide flexibility and ammunition to the real estate industry to survive and take on the larger battles that lie ahead as consumer buying power will be severely hit by the pandemic with real estate falling low in their priority list.
Corporate Comm India (CCI Newswire)
