Supertech seeks Rs 1,500 cr from stress fund to complete housing projects

Real estate developers were asked to apply to seek money from this fund

Realty firm Supertech on Sunday said it has sought Rs 1,500 crore from the government's newly created stress fund to complete its 12 ongoing housing projects at Noida and Greater Noida in Uttar Pradesh.

The company said these 12 projects comprising 20,000 flats are at an advanced stage of completion and it requires last mile funding to finish the pending works and deliver units to homebuyers.

In November, the central government announced a Rs 25,000-crore fund to help complete over 1,500 stalled housing projects, including even those that have been declared NPAs or admitted for insolvency proceedings.

The move is likely to help