India's Rs 25,000 crore zombie-home experiment starts to pay off
NEW DELHI: A Rs 25,000 crore ($3.5 billion) fund set up by India’s go nment to complete stalled housing projects is set to deliver its first finished apartments in 2021, offering a template for a problem that has washed out savings of thousands of home buyers and bankrupted developers.
The fund will hand over some 16 projects or more than 4,000 homes in the financial year starting April 1, said Irfan A Kazi, chief investment officer at SBICAP Ventures Ltd, the go nment-appointed manager of the alternative investment fund. The ‘Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects’ (SWAMIH) fund was announced in November 2019.
SBICAP Ventures的首席投资长Irfan A Kazi表示，在4月1日开始的财政年度，该基金将交付约16个项目，逾4000套住宅。SBICAP Ventures是政府指定的另类投资基金经理。2019年11月，“保障性和中等收入住房项目建设完成特别窗口”(SWAMIH)基金宣布成立。
At the time, India had an estimated $63 billion of such stalled projects as an economic slowdown and a credit crisis cascaded through the sector. Builders were unable to service their loans, forcing banks to write off the de ts and worsen what was already one of the world’s biggest bad-loan piles. Prime Minister Narendra Modi’s go nment created the fund as one measure to unclog the financing pipes.
Each and every move of Modi govt has paid off sooner or later. Namo again for 2024.
AL IS RANDEE
Modi go nment has done in 6 years what opposition could not do in 40 years. Opposition just ran in circles like some streetwalker moving between Andheri and Powai.
It is definitely a silver lining if this news is true. Retired people are dying every day waiting for these apartments never to get the reward of their life long savings.
Such plans and schemes only a non corrupt go nment , at Center, can think off...
thanks to MODI go nment some how they have pulled it off
Bold decision in a positive direction in the interest of all stake holders and National economy.
Modi go nment has, from day 1, introduced novel and effective measures to develop the nation. Corrupt, immoral and shameless opposition did nothing except loot Bharatwasi and intocated themselves with all kinds of vices.
Philipose Sunny Philipos
Jay hind. Jay Modigy. We the patriotic Indians will keep MODI as PM till 2029
Modi go nment is really a pro people go nment in all respect and looking to approach of this go nment, I am sure that this govt. would return again in 2024. NANO NAMO NAMO
Good job by the ruling go nment.
India cannot develop unless congress and oppn put the nation first. Congress is deliberately putting hurdles to somehow pull down Modi and ensure India doesn't progress. It is unfortunate they still get ves.
Modi thinks like a Indian middle class person.. glass half full and puts in effort to fill the glass. Mehnat to zaroor karta hain.
Great. Lakhs and best wishes to Modiji and his team.
modi modi modi modi a true Indian and a honest leader
Modi hai to mumkin hai great job modi jo
Pakistani and Modi haters mus ms Commies are putting abusive and negative remarks by kee pseudo Hindu names. Be saare, don't respond. They are anti nationals
Shailendra Mumbai Pune
One more BJP sponsored article! Why there is no news of petrol crossing Rs. 100 mark?
Great...Modiji hain to sab mumkin hai....period....Vande Matrm
Demonitisation and GST killed all small and medium size business establishments. Now it's govt responsibility to compensate them in some way.