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NewsLetter 20th June 20

DAILY NEWSLETTER

(CREDAI-MCHI, NATIONAL, MMR)

SATURDAY

20TH June 20

 

CREDAI-MCHI NEWS

1. Hindustan Times

 

Headline:

SC notice to centre, RBI on plea for real estate bailout

Link:

https://epaper.hindustantimes.com/Home/ShareArticle?OrgId=206f901ff0d&imageview=0

new delhi : The real estate industry will collapse and there will be a financial massacre if adequate measures are not taken to bail out the sector which has been on a downward spiral due to the Covid-19 lockdown and the economic slowdown, a petition filed before the Supreme Court on June 11 claimed.

The petitioner, Credai-MCHI, an association of over 1,400 real estate developers in Mumbai Metropolitan Region, approached the top court seeking a relief package for the ailing real estate sector contending that the sector was discriminated against by the government since it was not allowed to operate during the lockdown while many other sectors were allowed to function.

 

CREDAI NEWS

1. Economic Times

 

Headline:

CREDAI urges developers not to depend on Chinese material, promote ‘Swadeshi’

 

Link:

https://economictimes.indiatimes.com/industry/services/property-/-cstruction/credai-urges-developers-not-to-depend-on-chinese-material-promote-swadeshi/articleshow/76468969.cms?utm_source=twitter_pwa&utm_medium=social&utm_campaign=socialsharebuttons&from=mdr

MUMBAI: Realty developers’ body CREDAI has urged its 20,000 member developers across the country not to depend on goods manufactured in China and encourage usage of Indian products. The suggestion has been made as a mark of tribute and respect to the Galwan valley martyrs.

“We appeal to our member developers not to depend on Chinese goods and embrace “Swadeshi” or “Made in India” way of life and business,” said Satish Magar, President, CREDAI National. “CREDAI requests all the 250 allied industries linked to the real estate sector to manufacture these products locally, especially the ones that are currently being imported from China and support our the economy at large.”

 

2. Money Control

 

Headline:

CREDAI urges developers not to depend on Chinese material, promote ‘Swadeshi’

 

Link:

https://www.moneycontrol.com/news/business/real-estate/credai-asks-real-estate-developers-to-stop-using-china-made-goods-5431011.html

As a mark of solidarity and as a tribute to the Galwan Valley martyrs, Credai, the apex body of the real estate sector, has asked its members not to depend on goods manufactured in China and encourage the use of  Swadeshi products.

“We appeal to our member developers not to depend on Chinese goods and embrace Swadeshi or Made in India way of life and business. Credai requests all the 250 allied industries which are linked to the real estate sector to manufacture these products locally, especially the ones which are currently being imported from China and support the economy at large,” Satish Magar, President, CREDAI National, said.

 

3. Financial Express  

 

Headline:

Realtors’ body CREDAI asks members not to depend on products made in China

Link:

https://www.financialexpress.com/industry/realtors-body-credai-asks-members-not-to-depend-on-products-made-in-china/1997266/  

Realtors’ apex body CREDAI on Friday asked its 20,000 developer members not to depend on products manufactured in China and promote India-made goods.

“Standing in solidarity with the nation and as a mark of tribute and respect to the Galwan valley martyrs, CREDAI has urged upon its members not to depend on goods manufactured in China and encourage usage of Swadeshi products,” the association said in a statement.

 

BANK, FINANCE, NBFC NEWS

 

1.  ET Now

 

Headline:

Govt closely monitoring banks for transmission of repo rate cuts to consumers: FM Nirmala Sitharaman

 

Link:

https://www.timesnownews.com/business-economy/economy/article/govt-closely-monitoring-banks-for-transmission-of-repo-rate-cuts-to-consumers-fm-nirmala-sitharaman/609141

New Delhi: Finance Minister Nirmala Sitharaman said the government is closely monitoring the transmission of repo rate cuts by banks to consumers in terms of reduced interest rates.

She said the situation is being watched in consultation with banks so that relief measures announced by the government are effectively percolated at ground levels.

The Finance Minister while interacting with PHD Chamber of Commerce and industry through video conferencing, on Friday, also said that the government recognises the importance of wealth creators as they generate employment opportunities and utilise resources in an optimal manner for

 

NATIONAL NEWS

1. Financial Express

 

Headline:

How real estate in India will change in post COVID-19 world

 

Link:

https://www.financialexpress.com/money/how-real-estate-in-india-will-change-post-covid-19/1997217/

COVID-19 has impacted all of us in many ways, changing our lifestyle, values and beliefs significantly. Given that our collective memory is short, as evidenced by past events, COVID is still going to have a much longer lasting impact on us. And some of this will become permanent part of our conscious, the ‘new normal’. The way we live, and more so, the way we would want to live is going to impact the realty sector in a big way.

The sector will have to reinvent itself to understand, comprehend, plan and implement in new innovative ways to meet the emerging new requirements. The time for ‘Business as Usual’ is over, and creative disruption shall be the norm. While it will prompt the real estate sector to go back to the drawing board, it also offers new avenues to explore new innovations as also to fast-track incorporation of new technologies, be it construction technologies, home automation, IoT or AI. The planning would need to incorporate altered norms of social distancing, mobility, density and health considerations.

 

2. Hindustan Times 

 

Headline:

Covid-19: FM interacts with realtors’ body to assess real estate sector’s problems

 

Link:

https://www.hindustantimes.com/real-estate/covid-19-fm-interacts-with-realtors-body-to-assess-problems-faced-by-real-estate-industry/story-ztUpIHvI1a5unz7cnNzJVO.html

Finance Minister Nirmala Sitharaman on Friday held discussions with the senior representatives of realtors’ body NAREDCO regarding problems faced by the real estate industry during the current coronavirus pandemic.

Maharashtra’s former Chief Minister Devendra Fadnavis was also present in the closed-door meeting held through video conferencing.

“Smt @nsitharaman interacts with the senior members of the National Real Estate Development Council (NAREDCO) via video conference.

Shri @Dev_Fadnavis, Former Chief Minister of Maharashtra also joins the interaction,” said a tweet put out by the finance minister’s office.

 

 

 

UPCOMING EVENT

 

CREDAI-MCHI E-BIZNET

30th June to 4th July 2020

Business is Just a Click Away

Biznet is taking a giant digital leap for it's glorious 7th Edition.

For the 1st time ever, this networking platform will take place on the Internet : E-Biznet

Highlights:

# 700 Developers in 5 Days (200+ in 1 Day)

# Product presentation

# Live POLL

# Sharing their current requirements

# Lowest investment to visibility ratio across industry platform

 

# Participation in 30 Days Online Building Material Exhibition PAN India (1st to 30th Aug 2020)

Mark your calendars and book your spot now!

 

 

 

Prepared by

PR Team

CREDAI-MCHI

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