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SEZ developer hailed recent ECB

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Government’s new agenda for satisfying major SEZ players has recently cultivated few norms of ECB – (External Commercial Borrowing) for the best benefit of the realty up gradation, but it marked a negative prospect among many realty giants of the country. On a short note with www.propertykhazana.com the realty tycoon Unitech spokesman states that “no doubt the current stand of the govt. regarding the policies of ECB is positive but it has very low effect on the depth of the current slow down of the country’s economy”.
The current norms of ECB only allow the developers to raise funds at lower rates tagging it as a part of infrastructure rather than the any profitable realty. Source of www.propertykhazana.com also reveals that the govt. has allowed the realty houses only for the purpose of infrastructure and to keep the norm away from the other beneficial realty products. A senior official of Unitech reveals that “it could hardly make any difference for global economic influence on India.” Recently going through the tough phases of SEZ across the country – realty major DLF has asked for de-notifications for its five SEZ where two fall at Haryana.
Later on a team of realty experts at www.propertykhazana.com added that “now there should be guidelines and other measures of the financial norms for the lending organizations of the country so that the further dealings of funds can be avail for these SEZ at the cost of infrastructure benefits rather than the realty”. For more and latest realty updates visit www.propertykhazana.com.
Source: NBTVLIVE

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