Nirmala Sitharaman gives boost to housing sector with Rs 200 billion aid

17 Sep 2019 CW Staff

Finance Minister Nirmala Sitharaman announced financial support of Rs 200 billion for approximately 0.35 million incomplete housing projects (non-NPA and non-NCLT) in the affordable and middle-income segment.

Projects that have been declared as non-performing assets by a bank and the promoters of which have been taken to the National Company Law Tribunal by the creditors, will not be benefitted with this move.

The fund will come to the aid of projects that are about 60 per cent complete but are in need of additional funding for further construction.

Although the government is set to provide Rs 100 billion, it will gather an equivalent amount from institutions like the Life Insurance Corporation of India and other private sector entities. The entire fund will be handled by experts and professionals well versed in the housing sector.

The decision comes at a time when most real estate developers are coping with severe financial stress, in turn resulting in incomplete projects and affected buyers.

Products

07 Oct 2025

Ultra-Efficient Motors

ABB’s IE5 ultra-premium efficiency motors, India’s first IE5 range, deliver 45–1000 kW power without rare-earth metals. Designed for DOL and VFD operations, they ensure high reliability, lower energy losses, and optimal performance across metals, cement, textiles, pharma, food & beverage, and paper industries.Contact: contact.center@in.abb.com Website: https://new.abb.com/indian-subcontinent ..

Smart Solutions

Hikvision’s advanced Boom Barriers streamline access control and traffic management with AI-enabled automation. Offering telescopic, folding, and fencing boom arms, these solutions enhance safety, efficiency, and security across residential, commercial, and industrial premises.Contact: HikvisionWebsite: www.hikvisionindia.com ..

Next-Gen Seal

Type 8628VL is a next-generation mechanical seal for multiphase ethane and ethylene pipelines. Featuring dual non-contacting seal faces with spiral groove technology, it ensures superior reliability, efficiency, and environmental compliance under volatile pressure and temperature conditions, validated by peer-reviewed research.Company Name: John Crane Website: https://www.johncrane.com/ ..