The Centre will infuse Rs 10,000 crores into the real estate market to revive stalled housing projects across the nation. Another Rs 15,000 crores will be contributed by LIC and SBI.

• The Centre has announced a Rs 25,000 crore stimulus package for the ailing real estate sector
• The announcement was made by Finance Minister Nirmala Sitharaman on Wednesday
• SBI and LIC, the sovereign and pension funds have also agreed to invest in the market

The Centre has announced a Rs 25,000 crore stimulus package for the ailing real estate sector. Finance Minister Nirmala Sitharaman on Wednesday announced that the government plans to give impetus to the housing market to revive over 1600 stalled housing projects covering 4.58 lakh units.

The Centre will infuse Rs 10,000 crores into the real estate market to revive stalled housing projects across the nation. Another Rs 15,000 crores will be contributed by LIC and SBI.

Apart from Rs 25,000 crores from Centre, SBI and LIC, the sovereign and pension funds have also agreed to invest in the market. The funds will be used to provide priority debt financing for the completion of stalled housing projects in the Affordable and Middle-Income Housing sector.

Addressing a presser in New Delhi, Nirmala Sitharamn said that the government had been planning the move for the past two months as it held several meetings with the banks and the RBI.