Advertisement
Sunday, Dec 05, 2021
Outlook.com
Outlook.com

BJP MP demands waiver of home loan interest during COVID-19 lockdown

BJP MP demands waiver of home loan interest during COVID-19 lockdown
outlookindia.com
1970-01-01T05:30:00+0530
Bengaluru, May 11 (PTI): The BJP Rajya Sabha member from

Karnataka Rajeev Chandrasekhar on Monday demanded that the

Centre waive interest on home loans during the COVID-19 ''force

majeure'' period.

He wrote to Union Minister for Housing and Urban Affairs

Hardeep Singh Puri, referring to the April 29 meeting of the

Central Advisory Council, formed as per the Real Estate

Regulation and Development Act (RERA) guidelines.

Puri is also the chairman of the CAC.

The BJP MP pointed out that a decision was taken at the

meeting to provide six months extension for all active RERA

registered projects due to the COVID-19 lockdown and to allow

further extension on special cases after looking into the

merits of each case.

Just as relief is being given to the builders, the

interest of home buyers who are undergoing unimaginable

economic hardships in these unprecedented times of COVID-19

lockdown needs protection, the MP said.

"The interest part on the principal amount of the Loan

during this COVID-19 force majeure period should be waived for

the homebuyers.

For no fault of the buyers, they need not pay both rent

and Equated Monthly Installment (EMI)," the MP said.

''Force Majeure'' clause is a contractual provision that

addresses circumstances in which contractual performance

becomes impossible or impractical due to events that could not

be foreseen, and are not within party''s control.

He insisted that the extension of completion time for

RERA registered projects be for the actual lockdown period

only and that projects should not be delayed for the home

buyers. PTI GMS APR

RAVINDRANATH

APR

RAVINDRANATH


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

More from Website

ISL 2021-22: Kerala Blasters Beat Odisha FC 2-1 To Record Season's First Win

ISL 2021-22: Kerala Blasters Beat Odisha FC 2-1 To Record Season's First Win

The win helped Kerala Blasters move to sixth place in the Indian Super League 2021-22 table with five points from four matches. Odisha FC are third six points after three matches. This was their first defeat.

SA Vs IND: India National Cricket Team Selection For South Africa Tour - Preview

SA Vs IND: India National Cricket Team Selection For South Africa Tour - Preview

Virat Kohli's ODI captaincy, Ishant Sharma's place in Test, and back-up for the No. 3 batting position will ve up for discussion when the selectors meet to pick the squad for the South Africa tour.

FIH Men’s Junior Hockey World Cup 2021: Argentina Stun Germany, Claim 2nd Title

FIH Men’s Junior Hockey World Cup 2021: Argentina Stun Germany, Claim 2nd Title

Argentina had earlier won the FIH Men’s Junior Hockey World Cup crown way back in 2005 in Rotterdam where they defeated Australia 2-1 in the final. Germany are the six-time champions.

More from Outlook Magazine

Diary | I Want To Fly: The Unrealised Dreams Of An Ex-Banker And Mother

Diary | I Want To Fly: The Unrealised Dreams Of An Ex-Banker And Mother

Kaveri Mishra, an ex-banker and a mother, turned into a full-time home-maker four years back. What holds her back every time she wants to return to her career?

India Needs Kabir Today More Than Any Other Time

India Needs Kabir Today More Than Any Other Time

The Mahindra Kabira Festival at Guleria Ghat in Varanasi was a gentle reminder of the Sufi saint’s centrality to India’s syncretism

Death Of Three Dalit Girls And A Story Of Pain And Humiliation

Death Of Three Dalit Girls And A Story Of Pain And Humiliation

Family from UP village forced to run around to complete post-death official paperwork and even last rites.

Advertisement

Outlook Newsletters

Advertisement
Advertisement