new delhi real estate regulators will write within a week to the rbi seeking onetime debt restructuring for the industry to help developers overcome the liquidity issues uttar pradesh rera chairman rajive kumar said on saturdayindustry bodies credai and naredco have been demanding one time restructuring of developers outstanding loans with financial institutions to prevent bad loans and making them eligible for fresh borrowingsaddressing a webinar he said the decision to extend timelines for completion of projects by six months has been taken for the benefits of homebuyers and ensure customers get possessions of their flatskumar asked developers not to impose any penalty on homebuyers for any default in payments of their installments during this coronavirus pandemicone big issue faced by the industry is liquidity challenge for quite some time he said adding that many stalled projects do not qualify for getting last mile funding from the rs 25000 crore special window created by the governmentall india forum of real estate regulatory authorities aiforera has decided to take up the issue of onetime debt restructuring with the rbi said kumar who is the chairman of this new associationhe informed that the forum will write to the reserve bank of india in the coming weekthe uprera chief was speaking at a webinar organised by property magazine realty more and public relation firm iccpl on completion of three years of realty law rerakumar also warned builders to comply with the orders passed by the authorities else it would be forced to take action as per the provisions under the lawon hombuyers grievance that builders got relief from regulators and not them the uprera chief said the extension of timeline for projects completions would ensure that flat owners get keys of their dream homekumar asked builders not to levy any penalties or charge interest for any delayed payment by their customers during this pandemic and also assured that this factor would be kept in mind while passing the ordersspeaking at the event proptiger and housingcom ceo dhruv agarwala said the rera has been a massive boon for the entire real estate ecosystem and helped immensely in bridging the trust deficit between the developers and property buyersconsumers see rera as an effective recourse if something goes wrong he addedquoting a survey done by housingcom agarwala said that 81 per cent of respondents want to buy ready to move in flats or ones nearing completion reflecting distrust in consumers mind towards builderssupertech chairman r k arora said a regulator was needed in the sector and the rera law has helped in trust building gulshan homz director deepak kapoor said the rera has brought financial discipline in the development of real estate projectsgaurs group md manoj gaur said the law has brought credibility in the sector and developers feel proud in saying that their projects are registered under this lawhe however suggested that the governments development authorities and financial institutions should be brought under the ambit of rera to make everyone accountablebhutani group ceo