Summary:
The difference being accumulated in working capital term loan be repaid as a bullet at the end of the loan. On the recent circular issued by National Housing Bank on subvention scheme, they demanded that it should be withdrawn or revised to allow housing finance companies and banks subvention based funding linked to construction milestones. Realty players suggested that there should be a uniform definition of affordable housing. Moreover, realty players said as the land cost accounts for 30 to 70 per cent of the total cost of real estate project, land funding be allowed and there should be fix debt-equity ratio at 75:25. Naredco President Niranjan Hiranandani said the liquidity crisis and the need for tax rationalisation were two major challenges facing the realty sector and infrastructure industry..