The committee was formed in March by the Union Housing and Urban Affairs Ministry comprising officials of the Union Finance Ministry, Uttar Pradesh and Haryana state governments, the Insolvency and Bankruptcy Board of India, the National Housing Bank and the Real Estate Regulatory Authority (RERA) of Haryana and UP.
In an interesting output, the Indian Banks’ Association chief executive Sunil Mehta told the committee that ‘60% of the stalled projects’ had already been bought, with a capital commitment of Rs.1.9 lakh crore.
The committee’s report cited the IBA as estimating that 4.12 lakh dwelling units of Rs.4.08 lakh crore were “stressed” and about 2.40 lakh (44%) of these were in the National Capital Region. While the other 21% of the units are in Mumbai Metropolitan Region.
Chaired by former NITI Aayog CEO and India’s G20 Sherpa Amitabh Kant, the committee has handed over the report to Housing and Urban Affairs Minister Hardeep Puri.
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