Cabinet Clears Rs 25,000 Cr To Revive Real Estate Projects

by GoNews Desk 1 week ago Views 1009
Cabinet Clears Rs 25,000 Cr To Revive Real Estate
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In a big relief to home buyers, the Cabinet approved a fund of Rs 25,000 crore for stalled housing projects across the country on Wednesday.

Union Finance Minister Nirmala Sitharaman said that the government will provide Rs 10,000 crore to this Alternative Investment Fund. The remaining Rs 15,000 crore will be made available by the SBI and LIC.

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Sitharaman also said that across the country, 1,600 housing projects with about 4.58 lakh houses are stuck. She said that projects that have been declared NPA and those going through bankruptcy will also be benefited from this Alternative Investment Fund.

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