[INDIA REAL ESTATE NEWS] Good morning, everyone. I’m Shubham Pundir staff of Kamagroup Pvt. Ltd. Here I have important INDIA REAL ESTATE news to share with you which is as mentioned under.
After a welter of measures announced by Finance Minister Nirmala Sitharaman last week to deal with the economic slowdown and then RBI surplus' transfer on Monday, the government will announce relief package for the real estate sector, under which a stress fund could be set up to help complete unfinished projects. The announcement is expected this week.
Sources said liquidity problems and completion of stalled projects formed the core agenda of the meeting here on Sunday between Finance Minister Sitharaman and real estate players which discussed ways to create demand in the country's realty market.
Last Friday, she said the government would come up with "solutions" for stalled housing projects for stressed home buyers this week. Sitharaman announced more credit support to housing finance companies where she extended additional liquidity support to HFCs by the National Housing Bank, which has been increased from Rs 20,000 crore to Rs 30,000 crore.
Read more at: https://economictimes.indiatimes.com/wealth/real-estate/major-relief-to-stressed-realty-sector-on-the-anvil/articleshow/70870943.cms
Kamagroup Pvt. Ltd.
Have a nice day.