The RBI’s June 8 announcement, allowing district and state co-operative banks to use 5 per cent of their total commercial real estate asset for self-redevelopment will come as a boon for thousands of stalled projects. Real estate experts have welcomed the decision and said self-re-development provides maximum security to the members, less litigation and provides additional benefits to the members in the form of additional area, additional corpus over and above what the developer offers.
Source – Mid – Day
