Reactions of Real Estate experts on Alternative Investment Fund

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7 November 2019, Pune-

Suhas Merchant- President, CREDAI Pune Metro

CREDAI fraternity and the housing industry welcomes Government’s decision to set up Alternative Investment Fund (AIF) to rescue stalled housing projects. The Government deserves our highest compliments and indeed of entire supply chain of more than 250 ancillary industries related to housing for this timely measure. We are particularly encouraged as the measure constitutes an acknowledgement of the positive contribution of real estate to the economy and to the cherished goal of Housing for All by 2022. By providing last mile funding to net worth positive projects, up to 5 lakh homebuyers will now be able to get the delivery of their dream home. As NPAs and NCLT listed projects would be eligible for funding from AIF, developers have been enabled to rise above all challenges and complete their project without further delay. I also believe that these measures would have wider impact by accelerating the much sought investments, growth and above all employment.

Shrikant Paranjape, Vice President, CREDAI Maharashtra

The announcement to help the real estate sector by providing the sum of Rs. 25 thousand Crore by the Central Government is a welcome step and it should be implemented soon.

Abhay Kele, CEO, Prithvi Edifice

From past many years it seemed like the Government’s policies were against the Real Estate sector as it was neglected and not considered an important sector. This caused anxiety among the builders. But with this decision to set up Alternative Investment Fund (AIF) to rescue stalled housing projects, the government has taken the right move and there will be a positive growth in the sector. It was the need of the hour.

Sachin Kulkarni, Managing Director, Vastushodh Projects.

This is the best thing done by the Union Govt in relation to the Real Estate industry in a long time. Hopefully this move will reach the real end user beyond the Metros and benefit the end user at all levels.The execution has to be fast and immediate. Hopefully this stimulus will act as a catalyst in churning the entire industry.