UPRERA informs 1200 promoters about stress fund

Dated on: Friday 6th December 2019

The Uttar Pradesh Real Estate Regulatory Authority has sent letters to 1227 realtors across the state informing them about the benefit of the stress fund scheme announced by central government recently."The step has been taken in order to ensure that the promoters of such projects are aware of the scheme so that the central government in November had proposed fund of Rs 25,000 crore to complete pending realty projects. Out of the total, the government infused up to Rs 10,000 crore initially and the rest is to be contributed by banks, LIC and other sources.the projects are completed, and the home buyers of such projects are able to get their home," said the authority in a media release.