SBICAP Ventures approves 81 stalled realty projects

In a time span of about one year since it was tasked with funding of stalled and stressed projects across the country, SBICAP Ventures, the manager for the government's ₹25,000-crore stressed-asset fund, has to date accorded final approval to about 81 real estate projects consisting of almost 50,000 units. Irfan A Kazi, Chief Investment Officer, informed that the Venture has given final approval to 81 projects which entail the completion of about 51000 homes. Of these, 33 are from Delhi-NCR with around 28,000 homes. A total of 133 projects have received preliminary approvals and these are expected to complete 71,000 additional homes.

Oxirich Sanskriti located in Sector 33, Bhiwadi has also been provided funding and will build around 700 homes. The Imperia Esfera project in Gurgaon's Sector 37-C will see the completion of around 450 homes and the Capital Athena project in Greater Noida includes the construction of 850 homes. Ansal Housing has raised close to ₹100 crore for its project in Gurgaon, Ansal Highland Park, from the SWAMIH Fund in March this year and it will see the completion of homes by March 2023.