Rs 10,000 crore window to extend funding to stranded housing projects: FM

The fund will be managed by professionals, the finance minister added

The government on Saturday announced a Rs 10,000 crore special window to provide last-mile funding for completion of ongoing housing projects which are not NPAs or facing bankruptcy proceedings under NCLT.

Announcing the measure, Finance Minister Nirmala Sitharaman said the government will contribute Rs 10,000 crore for the special window and roughly the same amount is expected from outside investors.

This window will help in completion of affordable and middle income housing projects.

The fund will be managed by professionals, the minister added.

Sitharaman also said the interest rate on housing building advance will be lowered and linked to the 10-year G-sec yields.

"Government servants