[INDIA REAL ESTATE NEWS] Good morning, everyone.|
I’m Shashi kant shukla staff of Kamagroup. Here I have important INDIA REAL ESTATE
news to share with you which is as mentioned under.
NEW DELHI: A day after announcing a Rs 25,000-crore stress fund for stalled
housing projects, the government on Thursday advised homebuyers to approach lenders
for additional borrowing or revival of their loans, while clarifying that projects facing
litigation in higher courts will not be covered under the scheme.
The finance ministry also said the maximum funding will be Rs 400 crore for any single
project that will be seeking assistance from the 'special window' or the alternative
investment fund (AIF) for completion of the 1,508 projects comprising about 4.58
"Homebuyers are advised to reach out to their respective lending institutions to seek
necessary guidance for additional borrowing or revival of their existing home loans
within the existing legal and regulatory framework and standard board approved
policies of the lending institutions," said the frequently asked questions (FAQs) issued
by the finance ministry in this regard.
The FAQs also said the proposed AIF will not invest in projects that are facing litigation
in the high courts or the Supreme Court.
Read more at : https://economictimes.indiatimes.com/wealth/real-estate/home-buyers-can-approach-banks-for-loan-revival-rs-25000-cr-fund-not-for-projects-in-higher-courts-govt/articleshow/71955266.cms
Have a nice day.