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중심부, 연기된 노이다 아파트를 3lakh에 완성시키기 위한 UP계획 Centre, UP plan to complete 3 lakh delayed Noida flats
[INDIAN REAL ESTATE NEWS] Good morning, everyone. I’m Kim suhyeon staff of Kamagroup Pvt. Ltd.
Here I have an important Indian real estate news to share with you which is as undermentioned.



NEW DELHI: The Centre and the Uttar Pradesh government are looking to tap the unutilised land available with developers of delayed projects in Noida and Greater Noida, as well as setting up a dedicated fund to release stress and speed up delivery of nearly three lakh apartments.

The issue of setting up a stress fund for the sector was discussed at a meeting between Piyush Goyal, who is officiating as finance minister, and public sector banks on Monday where housing secretary D S Mishra was also present, sources told TOI. Though the corpus of the stress fund is yet to be worked out, the seed capital could be anywhere between Rs 1,000 crore and Rs 2,000 crore. The housing ministry, NBCC and banks have been asked to work out a plan that can be implemented quickly.

The other option is to use undeveloped land parcels with developers by transferring them to agencies such as NBCC, the construction PSU, which can leverage them to raise resources or develop them and finance the construction of flats, some of which were booked a decade ago.

Logjam huge as 70k flats in limbo
Several prominent realtors such as Jaypee Infratech, Amrapali and Lotus 3C’s Granite Gate — with close to 70,000 apartments, villas and plots — have already been referred for insolvency, putting the lifetime savings of middle-class home buyers at risk.

Read more at:
 https://economictimes.indiatimes.com/wealth/real-estate/centre-up-plan-to-complete-3-lakh-delayed-noida-flats/articleshow/67750807.cms

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