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Real Estate

India's real estate fund could prove too little, too late to revive demand

Many analysts say the fund won't solve sector's problems as quantum is inadequate

High-rise residential buildings are seen in this cityscape of Mumbai.   © Reuters

MUMBAI (NewsRise) -- India's plan to set up a fund to complete stalled housing projects may be too little, too late to boost demand in the cash-strapped residential market reeling under weak consumer sentiment and slowing investments.

On Saturday, the government said a fund worth 100 billion rupees ($1.41 billion) will be available to complete unfinished lower-and middle-income housing projects, while a similar amount will come in from private investors or state-owned investment companies. However, the funds are not available for projects that are deemed nonperforming or into bankruptcy proceedings.

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