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India's Real Estate Looks Forward to Upcoming Government Stimulus

Infra News - Published on Fri, 13 Sep 2019

Image Source: mint
Financial Express reported that at this juncture, with several economic stimulation measures being taken by the government, Indian Real Estate Inc is expecting a relief package to be announced very soon. Occasionally, we come across terms like legacy issues and inherited problems. These terms could well be applicable to contemporary real estate in India. The Mr Narendra Modi-led Central government, however, has been striving to rid the sector of such adjectives, by making things more transparent and providing better solutions to homebuyers. As if on cue, a slew of measures like RERA, GST, Housing for All by 2022 mission and the push to affordable housing have all been unleashed to transform this sector.

Finance Minister Ms Nirmala Sitharaman has already held meetings with key real estate developers and nodal agencies, where these were reportedly the two biggest issues on the agenda. So, what does the real estate sector expect?

However, developers have been asking for the creation of a stress fund for the completion of stalled and pending projects in order to bring relief to innumerable homebuyers and improving the sentiments of the common home buyer thereof. The Union Finance Minister empathizes with those suffering and has already stated that there will be solutions offered for stalled projects while extra liquidity assistance has been given to housing finance companies by the National Housing Bank, in the form of allocations being scaled up to INR 30,000 crore from INR 20,000 crore.

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Posted By : Ratan Singh on Fri, 13 Sep 2019
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