The government, which has set up a stress fund of Rs. 25,000 crore to revive the frozen housing projects, has completed investments exceeding Rs. 540 crores in some of the residential assets benefiting 1,800 domestic owners on Friday. Reported. In addition, 14 projects have been sanctioned with the right perseverance, which will require a financial infusion of Rs. 2,500 crores. More 40 transactions are under intense scrutiny
In November last year, the federal government announced a Rs. 25,000 crore fund to complete more than 1,500 housing projects, including the ones that were declared NPA (dysfunctional assets) or allowed to be lost. Also includes.
The measure will help 4.58 lakh housing units across the country. Those with the positive net worth will be funded only for RERA-registered projects.
“Special window destroys projects with capital commitment above Rs. 540 crores. The discounts were initiated, which would provide relief to 1800 home buyers and open the invested capital of Rs. 3,000 crore, “the finance ministry said on a single tweet.
“Further, 14 projects have been approved with a capital commitment of Rs. 2500 crores, which will provide relief to 10,000 home buyers and will release investment capital of Rs. 12500 crore,” it tweeted.
“There are more 40 contracts under a serious consideration for investment,” the finance ministry said.
However, the ministry has not released the names and developers of the schemes that received the sum of Rs. 540 crores from the stress fund.
A special window of Rs. 25,000 crores is in the form of Alternate Investment Fund (AIF). The centre pays Rs. 10,000 crores for this stress fund and the rest is the state insured, the ESI and the countrys largest lender, the SBI. SBI Cab manages AIF.
