SBI Cap may fund stalled Amrapali’s housing projects

Life-time savings of thousands of homebuyers are stuck in projects of Amrapali Group . Around 46,000 homebuyers invested in several Amrapali projects and most of them have yet not received possession even after more than a decade.
However, for the stranded homebuyers of Amrapali Group’s unfinished housing projects in NCR, a ray of hope has emerged on the horizon. SBI Cap, which manages real estate stress funds floated by the central government, has showcased its inclination towards funding these stalled projects.
SBI Cap informed the Supreme Court about its willingness in this reference and that a Special Purpose Vehicle (SPV) could be created. UCO Bank may also come along in this arrangement. As per the scheme proposed, the homebuyers would also be asked to pay their balance amount if they wish to receive hand-over of their units.

Leave a Reply

Your email address will not be published. Required fields are marked *