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Special fund of Rs. 20,000 crore to the sector by the Government

Dated on: Tuesday 17th September 2019

To boost the real estate sector, the Government has announced the creation of Rs. 20,000 crore fund for the last-mile financing of stalled affordable and mid-segment housing projects. The proposed fund would support projects which are net worth positive and have not been classified as an NPA or referred to as an NCLT. As per the estimates, around 3.5 lakh dwelling units would be eligible for funding support through this measure. The Government is committing to provide Rs. 10,000 crore, the remaining balance would be funded by investor like LIC, banks, sovereign funds, etc.

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