These projects are spread across a mix of markets including large cities such as the National Capital Region, Mumbai Metropolitan Region, Bengaluru, Chennai, Pune and also Tier 2 locations including Karnal, Panipat, Lucknow, Surat, Dehradun, Kota, Nagpur, Jaipur, Nashik, Vizag, Chandigarh.
Amongst these projects, investments in 18 projects have been given final clearance and disbursement is at various stages across seven residential projects.
Applications from 353 stressed projects are under examination for provision of assistance.
It was also highlighted during the meeting that activation of these construction sites by the special window would provide employment opportunities for various skilled and semi-skilled labourers
The Cabinet had last year cleared a proposal to set up a ‘special window’ in the form of AIF to provide priority debt financing for the completion of stalled housing projects.
SBICAP Ventures was the investment manager to the first AIF set-up under this special window.
The recent initiative by the Fund to reduce the cost of capital to 12 per cent has resulted in an increase in the number of projects that meet the funding criteria laid out under the Special Window.
Sitharaman suggested that both private and public sector banks, NBFCs and HFCs should see the Special Window as a stakeholder and increase support early completion of stressed projects.
NCR -- 26
Mumbai -- 27
Bengaluru -- 10
Chennai -- 3
Pune -- 7
Remaining in areas such as Karnal, Chandigarh, Panipat, Lucknow, Surat, Dehradun, Kota, Jaipur.