14 , May , 2020
MUMBAI: In a webinar organized by NARDECO, Nitin Gadkari, Minister of Road Transport and Highways of India said that Real estate developers and their associations should form their own non-banking finance companies (NBFCs) to support their businesses.
He further added, “Automobile companies like TATA, Mahindra, Ashok Leyland operate their own finance companies for benefiting the customers. Even associations should form their own NBFCs to run the business. This will help developers to provide cheaper loans to home-buyers with faster approvals”.
He advised that real estate industry need to adopt new technologies and reduce their construction cost that will help the sector generate more demand and sell inventory at a low cost.
