FM Nirmala Sitharaman announces Rs 10,000cr fund for last-mile funding of stuck housing projects

FM Nirmala Sitharaman announces Rs 10,000cr fund for last-mile funding of stuck housing projects

The unfinished projects should not have become NPA and should not have been pending in NCLT

Finance Minister Nirmala Sitharaman on September 14 announced a special window worth Rs 10,000 crore for last-mile funding of non-NPA and non-NCLT housing projects. This will provide relief to homebuyers stuck in incomplete projects totaling nearly 3.5 lakh units across the country,

“A special window to provide last mile funding for housing projects which are non-NPA and non-NCLT projects and are networth positive in the affordable and middle-income housing category will be set up,” the FM said addressing her fourth such conference since mid-August to announce measures to boost the ailing economy.

The objective is to focus on the construction of unfinished units that number around 3.5 lakh units, she said.

“The size of the fund would be Rs 10,000 crore and would be contributed by the government of India and roughly the same amount by outside investors,” she said.

The government of India on the lines of the NIIF can contribute to the fund while the rest of the investors would be LIC and other institutions and private capital from banks, sovereign funds, and DFIs, she said.

The fund shall be set up as a category II AIF Trust and would be professionally run with experts from housing and the banking sector, she said.

The FM had hinted earlier that some relief would be in the offing for homebuyers.

“We have had consultations with homebuyers, who have paid their advances and sitting without knowing what to do, and promoters that are sitting with no money to further their projects,” FM had said earlier.

Housing and Urban Affairs Minister Hardeep Singh Puri had also said remedial measures would be taken on the three big real estate projects in gurgaon, Delhi-NCR – Unitech, Amrapali and Jaypee – thanks to action by the Supreme Court.

As per Anarock research, NCR has the largest pile-up of stalled units at 1.18 lakh homes (68 percent of the total stuck stock) spread over 67 projects, with an overall value of Rs 82,200 crore. Of this, nearly 69 percent (or 83,470 units) are already sold out.

During a meeting on August 11 with Finance Minister Nirmala Sitharaman, realtors apex bodies CREDAI and NAREDCO had expressed concern that liquidity situation has worsened after the IL&FS crisis.

In a separate meeting with the finance minister, Forum for Peoples’ Collective Efforts (FPCE) had said earlier that five lakh homebuyers are stuck in various housing projects across the country. It had demanded the creation of a Rs 10,000 crore stress fund to complete such projects and provide relief to these homebuyers.

On August 23, finance minister Nirmala Sitharaman had announced that the National Housing Bank would provide additional liquidity of Rs 20,000 crore to HFCs and the minister had said that she would come up with an announcement for the real estate sector including for stalled projects soon.

Source By :

How To Determine The Actual Price Of The Affordable Housing Project In Gurgaon

How To Determine The Actual Price Of The Affordable Housing Project In Gurgaon

If you are planning to buy an affordable housing project in Gurgaon than MVN Athens Sector 5 Sohna can be one of the best options for you. These days the affordable housing properties are available at the affordable rates as the private builders have fixed the price of these projects.

The rates of affordable projects are lower than before, and now it is available at the best market price. The price of the affordable housing property depends upon the various factors which can be better understood by the buyer and seller.

An Overview About The Price Of The Affordable Price In Gurgaon

Although the current price of MVN Athens Sohna Gurgaon is fixing still the cost of it may vary on the various factors which are

The registration fee of the property may change the actual price of the affordable housing project in the Gurgaon. During the registration of the property, you need to pay a small property registration fee. The registration fee also varies according to the property, such as the registration fee of the affordable housing project is different than the commercial project.

Determine The Actual Price Of The Affordable Housing Property

The cost of the property is measured according to the structure of the flats, location & from the land allotted. There is some service tax which also influences the price of the affordable housing project. These are Government tax, service tax, society tax, and some other taxes as well.

Government Made The Affordable Project More Flexible

Government has fixed the basic price of all the affordable housing project in Gurgaon. But the along with all the above-listed factors the bank charges and brokerage also affect the actual cost of an affordable housing project in Gurgaon.

Buy The Best Affordable Housing Project In Gurgaon

MVN Athens Sohna Gurgaon affordable housing project is known to be the best in the current situation in Gurgaon. As it is based on innovative technology and delivers an excellent designed affordable price in Gurgaon. It offers 2BHK and 3BHK flats at the affordable and best market price.

Make Your Dream Residence with Affordable Housing Scheme Gurgaon

Make Your Dream Residence with Affordable Housing Scheme Gurgaon

Most of affordable housing projects in Gurgaon come under the Haryana Government affordable housing schemes. These projects offer quality home with good features at cheap prices. If you are unable to buy luxurious home for 30 to 80 lacks rupees in Delhi or Gurgaon, you can move to the affordable housing projects where you will be able to have your own home under your budget.

The projects offer 1BHK and 2 BHK homes at competitive prices. If you choose such kinds of projects for making your home, you will be able to bring a nice gift to your family even when you don’t have a large amount of money. This will be great to make possible buying a home under flexible payment plan. It is great to make it your own home instead of giving a big amount of your monthly salary as the rent of your rental home. Remember the amount of your monthly installment will be a simply bigger than the money you pay a monthly rent.

After buying your own home with affordable housing scheme Gurgaon, you will be able to save money which you give to your landlord. No matter which type your requirement is, affordable housing projects offer you the most suitable home. Considering the different requirement of Home buyers, the affordable housing projects are designed and developed with different kinds of homes so that every home buyer can buy their home as per their family needs or future plans. That is why; you can also come forward with your estimation and home requirement.