MUMBAI, 8th NOVEMBER, 2019 (GPN) :Mr. Madhusudhan G., Chairman and MD, Sumadhura Group –

“The government’s move to create a Rs 25,000-crore alternative investment fund (AIF) will certainly benefit a majority of stuck homebuyers. It’s a sigh of relief for genuine developers who are facing liquidity challenges. However, we will have to see as to how this decision of capping the funding for apartments and villas which fall around 2,150 sqft pan out in the long term. Since, this is likely to create funding issues for the stalled projects with larger unit sizes. From a broader perspective this initiative will encourage the developer community, as NCLT/ NPA will no longer be seen as a roadblock preventing stalled and delayed projects.” ENDS