Homebuyers should keep IBC as the last resort; if the delayed project is without encumbrances, they should explore self-development
The fund will be managed by professionals, the finance minister added
The FM also said an organisation would be set up to provide credit enhancement for infrastructure and housing projects, increasing the flow of funds to these
The top seven cities (NCR, MMR, Chennai, Bengaluru, Pune, Kolkata and Hyderabad) saw 52,150 new units launched in Q3 2018
As per the report, in Tier 2 Cities, as many as 303 projects having 68,094 units, worth Rs 301.20 billion, are yet to be delivered
For projects that are delayed for more than five years, banks should be ready to take haircut, the letter sent to Modi said
Parekh said this has been one of the main promises made by Prime Minister Narendra Modi
As per new norms, a builder can terminate a contract only after three payment defaults
This is likely to affect hundreds of home buyers too, who have made investments in these projects
M Venkaiah Naidu launched the housing projects at a function at Gandhinagar in Gujarat