Moneycontrol Be a Pro
Get App
you are here: HomeNewsEconomyPolicy
Last Updated : | Source:

Nirmala Sitharaman's booster dose for real estate sector: Key takeaways

The decision came a day after the FM had hinted that the government was planning more reform measures for the real estate sector.

Finance Minister Nirmala Sitharaman on November 6 announced another set of measures to boost the beleaguered real estate sector and infuse confidence among hassled homebuyers.

"The move will help relieve financial stress faced by a large number of homebuyers. This will also release a large number of funds stuck in these projects for productive use in the economy," Sitharaman said at a press meet.

Here are the key points from the press meet:


- SBI Cap will prioritise projects as per viability,

- Net worth key factor for disbursement

- SBI Cap will manage real estate AIF through an escrow account

image 1

- Projects can be NPAs/incomplete to be eligible, but not marked for liquidation by NCLT

Also Read: Govt approves Rs 25,000 crore fund for stalled housing projects

- Projects must be net worth positive to avail funds, percentage of completion not a criteria

- RBI to soon issue clarificatory note on realty fund

Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.
First Published on Nov 6, 2019 08:20 pm
Follow us on
Available On