SBI Capital will release ₹625 crore to fund six stalled Amrapali projects, ensuring apartment delivery to homebuyers. HUDCO expressed willingness to fund projects under specific terms.
More than 75,000 homebuyers of Amrapali, Jaypee Infratech, and Unitech in the National Capital Region are likely to be ineligible for the Rs. 25,000 crore stress fund due to government conditions. The finance ministry has clarified that the fund won’t be invested in projects facing litigation in high courts and the Supreme Court. Houses costing more than Rs. 1.5 crore in the NCR region are also not eligible.
Amrapali Group launches the Amrapali Leisure Valley, an integrated township in Noida Extension, aimed at fulfilling the housing demand in the NCR region.
Residential real estate prices have increased by 10% in three months as market sentiment and transactions improve. Prices were initially cut by 30% to combat decreased demand.