Stalled project revived? Now get enhanced loan
Financial Express Mumbai|August 04, 2023
Most of the revived projects come with a steep cost escalation
BANASREE PURKAYASTHA
Stalled project revived? Now get enhanced loan

IF YOU HAD booked an under-construction flat sometime in the last decade, you may be one of those unlucky ones who saw their dream house remain a dream as housing projects got stalled due to financial irregularities committed by promoters. With the intervention of Real Estate Regulatory Authority in respective states, some of those projects were revived-with a new developer coming in or the homebuyers association getting the mandate to complete it. However, most of these revival schemes came with a cost escalation. For those who now need to take a loan or have to revive their old loan accounts, this means knocking at the doors of lenders once again.

Change of builder documents

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