Tuesday, July 15, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Banking & Finance

Approved: Special Window for installed housing projects

Fiinews by Fiinews
January 14, 2020
in Banking & Finance, Investment, Projects, Tenders
Reading Time: 2 mins read
A A
0
F12
0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

Institutions expected to boost corpus

 

LIC

The Cabinet has approved the establishment of a ‘Special Window’ fund to provide priority debt financing for the completion of stalled housing projects that are in the Affordable and Middle-Income Housing sector.

The government will infuse Rs.10,000 crore into the fund to be set up as a Category-11 AIF (Alternate Investment Fund) debt fund registered with SEBI.

The fund will get support from investors from institutions like LIC and SBI, rising to Rs.25,000 crore, according to ANAROCK Property Consultants.

For the first AIF under the Special Window, it is proposed that SBICAP Ventures Limited shall be engaged to be the Investment Manager.

The fund would in turn would provide relief to developers that require funding to complete a set of unfinished projects and consequently ensure delivery of homes to the home buyers.

Since the real estate industry is intrinsically linked with several other industries, growth in this sector will have a positive effect in releasing stress in other major sectors of the Indian economy as well, said the Cabinet on approving the fund on 6 Nov 2019.

The approval follows the Finance Minister’s announcement on 14 September 2019 of a special window for affordable and middle-income housing.

The special window will provide last mile funding for housing projects which are stressed.

Subsequently, Inter-ministerial consultations and several stakeholder consultations were held with the housing industry including Housing Finance Companies, Banks, NBFCs, Investors, and Real Estate Developers.

Problems being faced by home buyers, developers, lenders, and investors were ascertained to be addressed through the Special Window, it said.

The timeline for setting up this fund and its actual implementation is quite critical, said Anuj Puri, Chairman of ANAROCK Property Consultants.

Also, the special window will get investments from institutions like LIC, SBI and others which will take the corpus to nearly Rs.25,000 crore. The fund will also be open to other sovereign funds to add to the corpus, he said.

More importantly, several NPA projects and those facing bankruptcy proceedings under NCLT shall also be included provided they are not referred for liquidation. This will bring in even more stalled projects into the eligibility criteria and give relief to more aggrieved homebuyers, said Puri.

A total of 5.76 lakh units (launched in 2013 or before) across budget segments are stuck in various stages of non-completion in the top 7 cities alone, according to ANAROCK data. fiinews.com

Tags: Ministry of Housing and Urban AffairsThe Cabinet
ShareTweetShare

Related Posts

PIB
Tenders

Tender: Minister officiates on Rs.2,000cr projects

by Fiinews
July 15, 2025
0
12

Sharavathi Bridge to improve connectivity in coastal regions Minister of Road Transport and Highways Nitin Gadkari Ji has inaugurated and...

PIB
Projects

Project: Update on Japanese-suppoted bullet train

by Fiinews
July 15, 2025
0
12

Shinkansen technology to run on 508-km corridor In the spirit of strategic partnership between Japan and India, the Japanese government...

PIB

Tender: Strategies needed for BIMSTEC ports

July 15, 2025
15
Jupiter Wagons

Invest: Jupiter commits Rs.3,000cr to rail projects

July 15, 2025
15
Kashmir Tourism

Project: J&K Govt gets Cold Storage proposals

July 15, 2025
16
PIB

Tender: DPIIT calls for GCC investors

July 15, 2025
16
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Tender: Minister officiates on Rs.2,000cr projects
  • Project: Update on Japanese-suppoted bullet train
  • Tender: Strategies needed for BIMSTEC ports
  • Export: ODOP international footprint expands
  • Export: Guidelines soon to put more ODOP on global markets

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.