NEW DELHI: The real estate wing of industry lobby ASSOCHAM has demanded that the government create a fund that they can tap to complete unfinished projects. The demand was made at an event which was attended by housing and urban affairs minister Hardeep Puri here on Wednesday.
"Court cases won't help completing incomplete projects. There is a need to do some hand-holding. The government should create a fund by raising bond or other financial instruments. Developers can borrow at lower interest rate only for completing project," said Naveen Raheja, former chairman of real estate committee of ASSOCHAM.
Raheja said all builders facing problems in completing projects indicates there are some issue as "everyone can't be bad". TOI on Tuesday reported how cases relating to builders have more than 60% share of all complaints filed in the country's apex consumer body.