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Solution for stalled home projects next week: FM
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SME Times News Bureau | 24 Aug, 2019
Holding out hope for distressed home buyers across the country, Finance
Minister Nirmala Sitharaman Friday said that the government is working
on a solution to get the stalled housing projects completed.
Announcing
steps to boost the economy in a press meet here, the minister said that
the measures for the distressed home buyers would be announced next
week along with other steps.
The announcement comes days after
the minister and Finance Ministry officials met stakeholders of the
country's real estate market, including developers, realty associations
and home buyers.
In the meeting on August 11, liquidity problems
and completion of stalled projects were discussed whereby the developers
suggested the creation a stress fund for completion of stalled
projects.
The home buyers' association, Forum For People's
Collective Efforts (FPCE), in its letter to Sitharaman had said that the
stalled projects can be solved with a stress fund of at least Rs 10,000
crore.
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