UP may announce package for stressed housing projects as unsold stock soars

Projects in the state have a combined inventory of 100,000 units valued at Rs 1.50 trn, mostly in Noida and Greater Noida

The Uttar Pradesh government is likely to announce a package for reviving the stressed housing projects, 80 per cent of which are concentrated in the National Capital Region (NCR), especially Noida and Greater Noida.

While homebuyers continue to wait endlessly for the delivery of flats, builders claim to be facing a severe cash flow and credit squeeze, with the result that their projects have been lying unfinished for the past several years.

UP chief minister Yogi Adityanath, addressing the 1st National RERA Conclave in Lucknow today, said the state government had constituted a high-level committee headed by the chief secretary