InvestorQ : Is it true that there are still a lot of real estate projects that are incomplete either due to the developer or due to the customer not paying up?
Anjana Aiyar made post

Is it true that there are still a lot of real estate projects that are incomplete either due to the developer or due to the customer not paying up?

Answer
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Arya Nanda answered.
7 months ago


The Indian real estate market has seen a prolong slump for nearly four years now with several developers struggling with a rising pile of debt and slow pace in housing demand. In the previous year, the government had announced plans to set up Rs.25,000 crore AIF to fund last mile deliveries of stalled residential projects. As per Anarock, around $25 billion worth of projects are currently under insolvency proceedings. This would span across 218 projects with 1.74 lakh units in top seven cities in the country. It is address this problem that the monetary policy has extended some relief to the realty sector by allowing not to downgrade realty loans for genuine delays and granting additional time for repayment.