NEW DELHI: An apex body of home buyers has demanded the government to set up a Rs 10,000 crore “stress fund” for completing pending real estate projects in the next five years. It has suggested government should strip off personal and company assets of promoters of delayed projects to recover the amount spent for completing the works using the ‘stress fund’. 

Forum For People’s Collective Efforts (FPCE), which was earlier known as Fight for RERA and had taken lead to push for the real estate regulation law, has also suggested the government to notify home buyers as “primary secured creditors” instead of the current status of “unsecured creditors”, which puts them in disadvantage when insolvency proceedings start against the builders.

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