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FM, developers discuss liquidity issue, need for stress fund
TIWN
FM, developers discuss liquidity issue, need for stress fund
PHOTO : TIWN

New Delhi, Aug 11 (TIWN) Finance Minister Nirmala Sitharaman on Sunday met real estate players and discussed ways to create demand in the country's real estate market.

 The major subjects discussed in the meeting included liquidity problems and completion of stalled projects.  Developers suggested the creation a stress fund for completion of stalled projects. The proposal was also put forward by home buyers in a separate meeting with the Minister during the day. 

Speaking to reporters after the meeting, Niranjan Hiranandani, the President of National Real Estate Development Council (NAREDCO), said that the issue of ways to use stress funds for financing stalled projects was discussed in the meeting. 

Jaxay Shah, President of Credai, said that the organisation had suggested the inclusion of financial institutions under the ambit of the Real Estate Regulatory Act (RERA) in order to aid the completion of stalled projects.  The meeting also explored measures to promote rental housing in the country.

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