‘Stress Fund’ comes to the rescue of this realty player, 900 homebyers to get homes finally
New Delhi: The so called ‘Stress Fund’ or the Special Window for Affordable & Mid-Income Housing (SWAMIH) Fund will arrange Rs 165 crore to Greater Noida based realty player Capital Infratech Homes, benefitting about 900 homebuyers.
Around 450 apartments will be delivered by Oct 2021 and an equal number of flats by February 2022, said an official of the Greater Noida Authority.
The authority has given its consent for the monetary dues of the realty player to the authority. About 3-4 other realty players will be holding a discussion soon as to how the stalled housing project of Capital Infratech Homes can be completed on time.
About 5.76 lakh homes that were started by developers in 2013 or before were delayed in the country in the 7 top cities alone. These stalled units were valued at Rs 4.64 lakh crore, according to a report by ANAROCK.