{"id":1010,"date":"2019-11-09T11:07:11","date_gmt":"2019-11-09T05:37:11","guid":{"rendered":"http:\/\/www.orionrealtors.com\/blog\/?p=1010"},"modified":"2022-04-01T16:31:33","modified_gmt":"2022-04-01T11:01:33","slug":"rs-25000-crore-fund-to-revive-1600-projects-with-4-6-lakh-houses","status":"publish","type":"post","link":"https:\/\/www.orionrealtors.com\/blog\/rs-25000-crore-fund-to-revive-1600-projects-with-4-6-lakh-houses\/","title":{"rendered":"Rs 25,000 crore fund to revive 1,600 projects with 4.6 lakh houses"},"content":{"rendered":"\n<ul class=\"wp-block-list\"><li><strong>While announcing the move, Nirmala Sitharaman indicated there may be some relief for those who have defaulted on repayment of their home loan EMIs in the stalled projects.<\/strong><\/li><li><strong>RBI is expected to announce the details for regularisation of accounts through a clarificatory circular.<\/strong><\/li><li><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>NEW DELHI:<\/strong> The government on Wednesday cleared a fund with an initial corpus of Rs 25,000 crore to revive up to 4.6 lakh housing units in 1,600 projects with \u201cpositive net worth\u201d, including those that have been classified by banks as non-performing assets or are facing insolvency resolution action.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While announcing the move, which\nwas approved by the Union Cabinet, finance minister Nirmala Sitharaman indicated\nthere may be some relief for those who have defaulted on repayment of their\nhome loan EMIs in the stalled projects across the country.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Reserve Bank of India is expected to announce the details for regularisation of accounts through a clarificatory circular, providing relief to several loan defaulters who had booked houses in projects that can now be taken up for revival. <\/p>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"523\" data-id=\"1011\" src=\"https:\/\/www.orionrealtors.com\/blog\/wp-content\/uploads\/2019\/11\/Master.jpg\" alt=\"\" class=\"wp-image-1011\" srcset=\"https:\/\/www.orionrealtors.com\/blog\/wp-content\/uploads\/2019\/11\/Master.jpg 800w, https:\/\/www.orionrealtors.com\/blog\/wp-content\/uploads\/2019\/11\/Master-300x196.jpg 300w, https:\/\/www.orionrealtors.com\/blog\/wp-content\/uploads\/2019\/11\/Master-768x502.jpg 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/figure>\n<\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Separately, the government is expected to announce measures for Jaypee Infratech, which has been facing insolvency action for over two years now.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source By: <strong><a href=\"https:\/\/timesofindia.indiatimes.com\/business\/india-business\/rs-25000cr-fund-to-revive-1600-projects-with-4-6-lakh-houses\/articleshow\/71947035.cms\">https:\/\/timesofindia.indiatimes.com\/business\/india-business\/rs-25000cr-fund-to-revive-1600-projects-with-4-6-lakh-houses\/articleshow\/71947035.cms<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>While announcing the move, Nirmala Sitharaman indicated there may be some relief for those who<\/p>\n","protected":false},"author":1,"featured_media":1012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-1010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Rs 25,000 crore fund to revive 1,600 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