Following the finance minister’sannouncement ofsetting up a Rs 250 billion fund—in the nature of Category-II Alternative Investment Funds—real-estate developers will be able to complete construction and revive stalled projects, sayARADHANA BHANSALI and MANASI PADWALKAR.
As reported, Forum for People’s Collective Efforts (FPCE) has positively responded to the government’s decision to create a Rs 250 billion fund to provide aid to around 1,600 stalled real estate projects that can now be completed.
With NHAI and the private sector re-strategising, the funding crunch and increasing construction costs may derail the country’s roads and highways sector. Recently, the Prime Minister’s Office (PMO) stated to NHAI that the Government is reportedly not keen to sustain its large investments in bui..
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.