Government Move To Revive Stalled Projects

 

Home buyers, hit by stalled projects and insolvency of builders, may finally get their dream homes as government has decided to form a high-level group to explore the possibility of setting up a stress fund to deal with stalled projects and bail out lakhs of stuck homebuyers.

A decision in this regard was taken after Finance minister Nirmala Sitharaman held two separate meetings meeting with real estate industry bodies and homebuyers to discuss the issues concerning the real estate sector and steps to be taken to strengthen the industry. As per agencies report, it was decided after the meeting that a high-level group will be formed under Housing and Urban Affairs Minister Hardeep Singh Puri to explore the feasibility of creating a stress fund to complete pending projects.