Rs 25,000-cr boost for realty: Govt sets up fund to revive stalled projects
Rs 25,000-cr boost for realty: Govt sets up fund to revive stalled projects Targeted at affordable and middle-income housing units, the fund will address residential properties in Mumbai that are priced below Rs 2 crore Current Affairs :The Union Cabinet on Wednesday affirmed the setting up of a Rs 25,000-crore elective venture finance (AIF) to restore around 1,600 slowed down lodging ventures crosswise over top urban areas in the nation. The AIF will be an exceptional window to give need obligation financing to finishing of activities in the reasonable and center pay classes, Finance Minister Nirmala Sitharaman said after the Cabinet meeting. In a move expected to carry huge alleviation to homebuyers just as organizations, the administration has chosen to incorporate activities proclaimed as non-performing resources and those which are experiencing bankruptcy at the National Company Law Tribunal (NCLT) to be considered for financing from the AIF. The subsidizing will be c...