The government’s Rs 125 billion Alternate Investment Fund (AIF), which offers last-mile funding to stuck housing projects, has disbursed funds to two housing projects. And, it reportedly expects to fully deploy its money in two years.
Hines, the US-based global real estate investment firm, plans to invest US$ 500 mn in India to develop new commercial and housing projects. The company foresees excellent growth opportunities in the country despite the current slowdown in the real estate sector.
The Finance Minister has announced the formation of a new fund to provide last mile funding for housing projects which are 60 per cent complete and are net worth positive in the affordable and mid-income category.
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.