[INDIA REAL ESTATE NEWS] Good morning everyone|
I am Sankhraj from KI-KME. Here I have important INDIA economic news to share with you
which is as mention under.
NEW DELHI: The government, which has set up a Rs 25,000-crore stress fund to revive
stalled housing projects, on Friday said it has cleared investments of over Rs 540 crore in
some stuck residential properties that will benefit 1,800 homebuyers. That apart, a preliminary
clearance has been given for due diligence in 14 projects, which would require a fund
infusion of Rs 2,500 crore. Another 40 more transactions are under active consideration.
In November last year, the central government announced a Rs 25,000-crore fund to help
complete over 1,500 stalled housing projects, including even those that have been
declared NPAs (non-performing assets) or admitted for insolvency proceedings.
The move is likely to help 4.58 lakh housing units across the country. Only RERA-registered
project with positive net worth will be prove funds.
Read more at: https://economictimes.indiatimes.com/wealth/real-estate/government-clears-rs-540-crore-in-stuck-housing-projects-from-stress-fund/articleshow/74146587.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Have a nice day.