Will a Rs 10,000cr stressed asset fund rescue the real estate sector?

Niranjan Hiranandani, National President, Naredco, said the NCR region alone accounts for more than two lakh incomplete apartments. “Those are the ones for which we are seeking a stressed asset fund, which would be the last mile funding. We look forward to see how the stressed asset fund can be raised. We have suggested the LIFO (last in first out) method for the purpose of funding for the stressed asset fund. This can be done quickly if the government gives necessary directions in this regard,” he said.

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