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Care Ratings Research Report
Real estate, which was once one of the booming sectors in the Indian economy has been experiencing a slowdown since the last few years.
It started off with demonetisation in November 2016, followed by the introduction of Real Estate Regulatory Authority (RERA) in May 2017 and the subsequent rollout of good and services tax in July 2017.
In order to provide relief to developers with unfinished projects and to ensure delivery of homes to buyers, the Government of India during November 2019 had announced a stimulus towards aiding the ailing Real Estate sector by infusing Rs 10,000 crore into an Alternative Investment Fund while the State Bank of India and Life Insurance Corporation contributed Rs 15,000 crore to the fund (Rs 25,000 crore overall).
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