Rs 25,000-cr fund for real estate sector: Realtors welcome govt's decision, say move will solve long-pending problem of homebuyers
5 years, 2 months ago

Rs 25,000-cr fund for real estate sector: Realtors welcome govt's decision, say move will solve long-pending problem of homebuyers

Firstpost  

Deloitte partner Rohinton Sidhwa said getting stalled real estate projects moving through government- New Delhi: Real estate developers welcomed the government’s move to create a Rs 25,000-crore fund to help complete over 1,600 stalled housing projects, saying it will solve the long-pending problem of homebuyers. Now the only criteria for eligibility is networth positive projects,” real estate developers association CREDAI chairman Jaxay Shah said. In his comments, NAREDCO president Niranjan Hirnandani said the vexed problem of delayed and stalled real estate projects appears to have found a solution. Meanwhile, Deloitte partner Rohinton Sidhwa said getting stalled real estate projects moving through government- The AIF 2 structure of the fund is a pass-through for tax purposes.

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History of this topic

ASK Property Fund announces exit of ₹350 crore from QVC Realty projects, delivers around 20% IRR
8 months, 1 week ago

ASK Property Fund announces exit of ₹350 crore from QVC Realty projects, delivers around 20% IRR

Hindustan Times  

ASK Property Fund, the real estate private equity arm of Blackstone-backed ASK Asset and Wealth Management Group, has announced an exit of ₹354 crore from its investment in three projects of QVC Realty Developers. The real estate private equity arm of Blackstone-backed ASK Asset and Wealth Management Group, has announced an exit of ₹ 354 crore from its investment in …

ASK Property Fund, Trevoc group jointly invest ₹200 cr in a Gurugram project
10 months, 2 weeks ago

ASK Property Fund, Trevoc group jointly invest ₹200 cr in a Gurugram project

Hindustan Times  

ASK Property Fund, the real estate private equity arm of Blackstone- backed ASK Asset & Wealth Management Group, will invest ₹120 crore in TREVOC’s luxury residential project in Gurugram, the company said in a statement. ASK Property Fund, the real estate private equity arm of Blackstone- backed ASK Asset & Wealth Management Group, will invest ₹ 120 crore in TREVOC’s …

Real Estate Budget 2024: Govt to launch housing scheme for the middle class
11 months, 1 week ago

Real Estate Budget 2024: Govt to launch housing scheme for the middle class

Hindustan Times  

The government will launch a housing scheme for middle class to buy or build their own houses, finance minister Nirmala Sitharaman said in her Budget 2024 speech on February 1. Government to launch ₹ 2 crore more housing units in the next five years under the PM Awas Yojana : Budget 2024 “Our Government will launch a scheme to help …

Interim Budget 2024: What can it do for real estate?
11 months, 3 weeks ago

Interim Budget 2024: What can it do for real estate?

The Hindu  

The Indian real estate sector, particularly housing, is at a critical juncture as we approach the Union Budget for 2024-2025. Considering the forward momentum seen in 2023, alongside global economic challenges and the stagnation in affordable housing, there are several key areas the sector should focus on in its demands from the upcoming budget. Real estate stakeholders therefore look to …

Nearly 2.5 lakh homebuyers to benefit as Amitabh Kant committee recommendations get UP govt nod
1 year ago

Nearly 2.5 lakh homebuyers to benefit as Amitabh Kant committee recommendations get UP govt nod

Hindustan Times  

The Uttar Pradesh Cabinet on December 19 approved the recommendations of Amitabh Kant committee on delayed real estate projects, bringing relief to lakhs of aggrieved homebuyers who have been waiting to receive possession of their homes, some of which are stuck for more than a decade. The Uttar Pradesh Cabinet on December 19 approved the recommendations of Amitabh Kant committee …

NAREDCO seeks ₹50,000 crore more under SWAMIH Fund in Budget 2024
1 year ago

NAREDCO seeks ₹50,000 crore more under SWAMIH Fund in Budget 2024

Hindustan Times  

Real estate developers' body National Real Estate Development Council has recommended to the finance ministry to come up with the second tranche of the Special Window for Affordable and Mid-Income Housing fund with a corpus value of ₹50,000 crore in the upcoming budget for the financial year 2024-2025, saying the move is expected to benefit both home buyers as well …

Central committee proposes several measures to provide relief to homebuyers in UP. Know all suggestions here
1 year, 5 months ago

Central committee proposes several measures to provide relief to homebuyers in UP. Know all suggestions here

India TV News  

In lieu of several stalled real estate projects in Uttar Pradesh that have adversely affected prospective homebuyers, an expert committee has proposed several measures, such as introducing changes in the insolvency law, to provide relief for builders so they can complete their projects and hand over the buildings to buyers. According to a report by Hindustan Times, the central committee …

Realty stocks plunge 4 pc post budget
1 year, 11 months ago

Realty stocks plunge 4 pc post budget

Deccan Chronicle  

NEW DELHI: Shares of real estate companies plunged 4 per cent on Wednesday after Finance Minister Nirmala Sitharaman announced increasing PM Awas Yojana outlay by 66 per cent to Rs 79,000 crore for the next fiscal year. Shares of Sunteck Realty plummeted 5.67 per cent to close at Rs 345 per share on the NSE, while Indiabulls Real Estate tumbled …

Budget 2023 Expectations: Will Home Buyers Get More Relief? Here's What Real Estate Sector Wants From FM
1 year, 11 months ago

Budget 2023 Expectations: Will Home Buyers Get More Relief? Here's What Real Estate Sector Wants From FM

News 18  

Real estate sector in India is expected to grow at a CAGR of 15%, from $60 billion in 2010 to $1,000 billion in 2030. Despite the rise in interest rates on home loans by more than two percentage points over the past year, housing sales have remained strong in 2022, in large part, because of the pent-up demand from the …

Project proposals for over 60,000 houses approved under PMAY(U): Govt
2 years, 10 months ago

Project proposals for over 60,000 houses approved under PMAY(U): Govt

Live Mint  

Project proposals for over 60,000 houses were approved for construction under the Pradhan Mantri Awas Yojana in Andhra Pradesh, Chhattisgarh, Himachal Pradesh, Karnataka and Rajasthan, the Ministry of Housing and Urban Affairs said on Tuesday. Earlier this month, Finance Minister Nirmala Sitharaman during the Budget presentation announced an allocation of ₹48,000 crore to build eight million houses. “The total number …

COVID-19: Double stress fund for stalled affordable housing projects to Rs 50,000 cr, says EY
4 years, 8 months ago

COVID-19: Double stress fund for stalled affordable housing projects to Rs 50,000 cr, says EY

Firstpost  

The government has so far cleared Rs 540 crore worth projects and preliminary clearance has been given for due diligence in nearly 14 housing projects. Mumbai: With the number of ‘stressed’ real estate projects likely to increase due to the ongoing lockdown, global consultancy firm EY has recommended doubling of special stress fund to Rs 50,000 crore to provide liquidity …

Budget 2020: Why reviving real estate holds key to boosting growth
4 years, 11 months ago

Budget 2020: Why reviving real estate holds key to boosting growth

India Today  

India's real estate sector has been witnessing a prolonged period of weak sales, resulting in a sharp decline in its contribution to the country's Gross Domestic Product. Rebuilding Real Estate | India Today Insight Despite the government's measures to revive the ailing sector, there has been no positive outcome with just marginal growth of one per cent in 2019. "Some …

Budget 2020: Real estate sector urges govt to provide infra status; boost demand to address liquidity, stress issues
4 years, 11 months ago

Budget 2020: Real estate sector urges govt to provide infra status; boost demand to address liquidity, stress issues

Firstpost  

The realty industry is looking to draw the government’s attention towards needs to take steps to boost liquidity, lower stamp duty, incentivise rental housing and affordable segment, rationalise taxation and lower home loan interest rates. Ketan Musale, Director, Dotcom Realty The real estate sector is very optimistic about the upcoming Budget in 2020 as we hope that it will include …

Property market set for modest lift from government measures: Analysts
5 years, 1 month ago

Property market set for modest lift from government measures: Analysts

Live Mint  

India's housing market, burdened with unfinished projects as developers struggle to get cash, is forecast to rebound modestly over the coming year on government plans to unclog the market, a Reuters poll of analysts found. Financing options, including banks and non-banking financial companies, have dried out and investors prefer commercial real estate," said Anuj Puri, chairman of ANAROCK Property Consultants, …

Will govt’s rescue plan get you closer to your dream home?
5 years, 1 month ago

Will govt’s rescue plan get you closer to your dream home?

Live Mint  

In what seems to be a course correction, more than a month after announcing an unpopular real estate relief package, the government has come up with a funding plan that may give respite to lakhs of homebuyers stuck in stalled projects. The government’s proposed alternative investment fund, worth ₹25,000 crore, is expected to provide last-mile funding to stalled projects across …

Is the government's bailout package for real estate enough to revive the sector?
5 years, 2 months ago

Is the government's bailout package for real estate enough to revive the sector?

India Today  

Much in line with the announcements made by Union finance minister Nirmala Sitharaman in September, the cabinet on November 7 approved a Rs 25,000 crore special window to provide funding to stalled housing projects in a bid to revive the sector. "The funds will be used to provide priority debt financing for the completion of stalled housing projects in the …

Realty stocks jump up to 8.2% on Rs 25,000-cr fund booster to complete 1,600 stalled housing projects
5 years, 2 months ago

Realty stocks jump up to 8.2% on Rs 25,000-cr fund booster to complete 1,600 stalled housing projects

Firstpost  

New Delhi: Realty stocks closed up to 8.2 percent higher on Thursday after the government approved a Rs 25,000 crore fund for 1,600 stalled housing projects, which is expected to jumpstart consumption and give a boost to real estate and allied sectors. “On the domestic front, the measures announced by the Finance Minister yesterday helped revive interest in real estate …

Homebuyers can approach banks for loan revival; Rs 25,000-cr fund not for projects facing litigation in higher courts: Govt
5 years, 2 months ago

Homebuyers can approach banks for loan revival; Rs 25,000-cr fund not for projects facing litigation in higher courts: Govt

Firstpost  

A day after announcing a Rs 25,000-crore stress fund for stalled housing projects, the government on Thursday advised homebuyers to approach lenders for additional borrowing or revival of their loans, while clarifying that projects facing litigation in higher courts will not be covered under the scheme New Delhi: A day after announcing a Rs 25,000-crore stress fund for stalled housing …

Nirmala Sitharaman's support for realty indicates Narendra Modi govt's willingness to get into micro details to revive growth in other sectors
5 years, 2 months ago

Nirmala Sitharaman's support for realty indicates Narendra Modi govt's willingness to get into micro details to revive growth in other sectors

Firstpost  

The present decision to open a new window for finance is hence quite timely and should address to a large extent the woes of the real estate segment The improvement in the World Bank Doing business rank is just a statistic, but sounds good in the global context. The decision taken to create an Alternative Investment Fund for Rs 25,000 …

A Rs 25,000 cr push: Here's how govt plans to revive the real estate sector
5 years, 2 months ago

A Rs 25,000 cr push: Here's how govt plans to revive the real estate sector

Business Standard  

In a cabinet meeting, on Wednesday, Finance Minister Nirmala Sitharaman approved setting up of a Rs 25,000-crore alternative investment fund to revive around 1,600 stalled housing projects across top cities in the country. At present, the Mumbai Metropolitan Region and the National Capital Region are two of the worst-hit property markets in the country, with 95,000 and 195,000 stuck projects, …

Nirmala Sitharaman’s announcement for housing: AIF for NPA-tagged projects is a great idea, but devil is in the detail
5 years, 2 months ago

Nirmala Sitharaman’s announcement for housing: AIF for NPA-tagged projects is a great idea, but devil is in the detail

Firstpost  

The big relief to the home buyers and developers in Sitharaman�s announcement is that the fund can be availed by even those projects that are tagged as NPAs by banks The Union Finance Minister Nirmala Sitharaman’s announcement that the government will take the initiative to set up a Rs 25,000 crore Alternative Investment Fund to lend a helping hand to …

Nirmala Sitharaman announces Rs 25,000 cr bailout fund to complete over 1,600 stalled housing projects
5 years, 2 months ago

Nirmala Sitharaman announces Rs 25,000 cr bailout fund to complete over 1,600 stalled housing projects

Firstpost  

In a major boost to the housing and real estate sector, the government on Wednesday approved setting up of a Rs 25,000 crore bailout fund to finance 1,600 stalled housing projects, the Finance Minister Nirmala Sitharaman said In a major boost to the housing and real estate sector, the government on Wednesday approved setting up of a Rs 25,000 crore …

Nirmala Sitharaman hints at more sops for housing sector
5 years, 2 months ago

Nirmala Sitharaman hints at more sops for housing sector

India TV News  

Hinting at a big boost to the realty sector, Finance Minister Nirmala Sitharaman on Tuesday said that the government and the Reserve Bank of India are in the process of resolving the issues faced by the real estate sector. "The government is working together with the RBI to see how best we can tweak the existing norms wherever necessary to …

We need builders to build new India; HDFC keen to contribute to govt's Rs 20k cr realty fund, says Deepak Parekh
5 years, 3 months ago

We need builders to build new India; HDFC keen to contribute to govt's Rs 20k cr realty fund, says Deepak Parekh

Firstpost  

The government fund will help good developers finish their pending projects, which are non-NPA and non-NCLT, said HDFC’s Deepak Parekh. New Delhi: Making a strong case for supporting developers to help them come out of the crisis, eminent banker Deepak Parekh said the government incentives have helped the affordable housing sector gain traction but homebuyers now clearly want “right developers, …

Govt's boost to real estate disappointing, says CREDAI; key demands such as tax rebate yet to be addressed
5 years, 3 months ago

Govt's boost to real estate disappointing, says CREDAI; key demands such as tax rebate yet to be addressed

Firstpost  

CREDAI’s national chairman Jaxay Shah said the fund created for completing the stalled real estate projects will have limited impact. CREDAI’s national chairman Jaxay Shah said the fund created for completing the stalled real estate projects will have limited impact as it excludes those projects which are either facing insolvency proceedings or become non-performing assets. In July, the National Housing …

No relief for buyers stuck in Amrapali, Unitech, Jaypee and other stalled projects
5 years, 3 months ago

No relief for buyers stuck in Amrapali, Unitech, Jaypee and other stalled projects

Live Mint  

The caveats announced along with the real estate funding package on Saturday may restrict the benefits proposed to home buyers in various stalled projects across the country. In other words, the aggrieved buyers of some of the country’s biggest stalled projects, including that of Amrapali, Unitech, Jaypee, 3C and Ansal API, among others, will not benefit from the government’s announcement. …

Centre to make major announcements for real estate industry, stalled projects
5 years, 4 months ago

Centre to make major announcements for real estate industry, stalled projects

Hindustan Times  

After a slew of reform measures announced in the past fortnight, the Central Government is likely to come up with major announcements to boost the real estate industry this week. Earlier, the finance minister had met the stakeholders of the real estate sector including developers and home buyers. According to official sources, the package for real estate industry would include …

Sitharaman, real estate developers discuss liquidity issue, need for stress fund
5 years, 4 months ago

Sitharaman, real estate developers discuss liquidity issue, need for stress fund

Live Mint  

New Delhi: Finance Minister Nirmala Sitharaman on Sunday met real estate players and discussed ways to create demand in the country's real estate market The major subjects discussed in the meeting included liquidity problems and completion of stalled projects. Speaking to reporters after the meeting, Niranjan Hiranandani, the President of National Real Estate Development Council, said that the issue of …

Budget 2019: Home buyers seek Rs 10,000 crore stress fund
5 years, 6 months ago

Budget 2019: Home buyers seek Rs 10,000 crore stress fund

India Today  

The Forum for People's Collective Efforts has asked Finance Minister Nirmala Sitharaman to create a stress fund of at least Rs 10,000 crore to complete stalled real estate projects within a period of five years. In a letter to the minister with Budget recommendations, the home buyers' association noted that despite the implementation of the Real Estate Act and setting …

Home buyers seek Rs 10,000-cr 'stress fund'
5 years, 6 months ago

Home buyers seek Rs 10,000-cr 'stress fund'

India TV News  

The Forum for People's Collective Efforts has asked Finance Minister Nirmala Sitharaman to create a stress fund of at least Rs 10,000 crore to complete stalled real estate projects within a period of five years. In a letter to the minister with Budget recommendations, the home buyers' association noted that despite the implementation of the Real Estate Act and setting …

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