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Rs 25,000 cr fund for stalled real estate projects: Sitharaman

Rs 25,000 cr fund for stalled real estate projects: Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman on Wednesday announced Rs. 25,000 crore fund for stalled real estate projects, out of which Rs. 10,000 crore will be infused by the government.

In a press conference, Sitharaman said that the government had approved the establishment of a 'Special Window' to provide priority debt financing for the completion of stalled housing projects that are in the affordable and middle-income housing sector.

She said that the special window for funding of stalled affordable and middle-income housing projects would enable home-buyers to get delivery of homes locked in a stalled housing project.

State lender State Bank of India (SBI) and state-run insurance company Life Corporation of India, sovereign and pension funds would also contribute to the fund, she said.

The fund will help nearly 1,600 stalled housing projects in the country, she said. See P12

MPOST BUREAU

MPOST BUREAU

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