Government mulls mechanism to complete stuck housing projects; banks willing to invest
Since the same formula can not be applied to every project, the government is considering two models for execution of the pending projects. Under the first model, it will consider a plan to be able to extract the cost of executing the project by commercialising its extra floor area ratio (FAR) or common area. Such projects will be listed in a separate list.
In a bid to provide some oxygen to stuck housing projects gasping for air, the government has started working on a new mechanism to help them complete these projects. Representational Image, source: Reuters