Extension in project completion deadline to cost homebuyers dear
If you have a home loan and are paying pre-EMIs, the total interest cost on your loan will go up
The monthly rent you may be paying will add to your loss
Considering the lockdown and the exodus of labourers, the ministry of housing and urban affairs has advised state governments and respective real estate regulatory authorities to consider covid-19 pandemic as “force majeure" event and allow extension of up to nine months to developers for the completion of real estate projects. This is a relief for developers, but it will cost homebuyers dear.