Study finds ‘serious issues’ with some NCR stalled projects

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New Delhi | Updated: November 22, 2018 9:00:36 AM

In a bid to find out how stalled projects in the National Capital Region (NCR) can be completed, the Uttar Pradesh Real Estate Regulatory Authority carried out a study of 98 projects.

Infrastructure developers, Specific Relief Act, 1963, Rajesh Narain Gupta, SNG & Partners, PwC India, Ravi Shankar Prasad, Satish Parakh, india,  foreign direct investmentsThe remaining projects have been graded as redeemable and can be revived by roping in a co-developer or providing seed funding, he said.

In a bid to find out how stalled projects in the National Capital Region (NCR) can be completed, the Uttar Pradesh Real Estate Regulatory Authority carried out a study of 98 projects. The study said “serious issues” that are difficult to resolve plague about 25 projects, while 25 projects have been declared fine, a senior state government official said.

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The remaining projects have been graded as redeemable and can be revived by roping in a co-developer or providing seed funding, he said. “Physical progress in these projects is over 70%. We need is some last mile corpus to complete work…We need to resolve this quickly… Finance is a major challenge,” he said. The official, however, refrained from naming the projects.

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