There are many buyers who invested their money in projects hoping that one day they will be able to live in their own flats.
Homebuyers can rejoice now as the finance ministry said that the government is working on a solution to get the stalled projects completed. There are many buyers who invested their money in projects hoping that one day they will be able to live in their own flats. However, their hopes died when the projects were not completed. They are waiting for several years to get their flats.
In a press meet on Friday, Finance Minister Nirmala Sitharaman said that the measures for the distressed homebuyers would be announced next week. This development has come days after a group of real estate developers, including Delhi-NCR, met with the finance minister.
In the meting held last week, the group of real estate developers along with homebuyers representative association – Forum For People’s Collective Efforts (FPEC) raised issues of liquidation problems. FPFC representative has suggested for stress funds to complete stalled projects.