NEW DELHI: The ministry of corporate affairs has started discussing policy reforms with other ministries and regulators with an aim to speed up completion of stalled real estate projects, revive insolvent developers, and make debt resolution more efficient, said two persons with knowledge of the development.
The ministry is in the process of setting up a committee with members from different minis-tries and regulatory agencies that will work on a blueprint of “commercially viable systemic reforms focused on tackling dis-tress in the real estate sector, according to the persons.The idea is to restore public confidence in the real estate sector. Even two years ago, investments of over 4 lakh crore were stuck covering 4.12 lakh stressed dwelling units in the country, an expert committee led by India’s former G20 Sherpa Amitabh Kant had said in July 2023.
Satinder Duggal
