Home / Mumbai / Mumbai News / Article / 'Restaurants, property owners need to work together'

'Restaurants, property owners need to work together'

As National Restaurant Association of India seeks moratorium on rent, landlords explain their predicament with banks; will there be a solution soon?

Listen to this article :
A restaurant in Dadar was only giving takeaways on Sunday. Pic/Ashish Raje

A restaurant in Dadar was only giving takeaways on Sunday. Pic/Ashish Raje

After writing to the Centre for a deferment of various payments, the National Restaurant Association of India (NRAI) has written an open letter to landlords asking for a waiver on rent and CAM (Common Area Maintenance) from March to at least June. Landlords, however, have asked how they can do that when they too have business to run.

NRAI has also asked for a waiver of minimum guaranteed rents for six months post resumption and a 50 per cent reduction of CAM for the same period. It has also proposed a revenue-sharing deal not exceeding 10 per cent for six months after operations resume. The letter from Anurag Katriar, President, NRAI and CEO of deGustibus Hospitality, reads, "This appeal is aimed at ensuring our mere survival during such extraordinarily troubled times; we aren't trying to profiteer at the expense of the landlords."

How do you like the new new mid-day.com experience? Share your feedback and help us improve.

Read Next Story
COVID-19 spoils fruits of labour

Trending Stories

Latest Photoscta-pos

Latest VideosView All

Latest Web StoriesView All

Mid-Day FastView All

Advertisement