Lok Sabha Question No. 3795 (UNSTARRED), answered on 2023-03-23
Subject: Housing Projects
Ministry: HOUSING AND URBAN AFFAIRS
Asked by: Rajveer (Raju Bhaiya) Singh, Raja Amareshwara Naik, Bhola Singh

## GOVERNMENT OF INDIA MINISTRY OF HOUSING AND URBAN AFFAIRS LOK SABHA

## UNSTARRED QUESTION NO. 3795 TO BE ANSWERED ON MARCH 23, 2023

## HOUSING PROJECTS

NO. 3795.        SHRI RAJVEER SINGH (RAJU BHAIYA): SHRI RAJA AMARESHWARA NAIK:

SHRI BHOLA SINGH:

Will  the  Minister  of  HOUSING  AND  URBAN  AFFAIRS  be  pleased  to state :

- (a) whether  the  Government  has  failed  to  provide  solutions  to  more than one lakh homebuyers who are paying rent and Equated Monthly Instalments (EMIs), both for fifteen years as many housing projects in National Capital Region (NCR) are stalled;
- (b) if so, whether the Government proposes to bring uniform policy/regulation to make viable such stalled housing projects and if so, the details thereof;
- (c) whether  the  Government  has  collected  the  data  of  such  stalled housing projects in NCR during last ten years and if so, the details thereof;
- (d) whether the said situation is a result of nexus of Authority, Builders and  Banks  since  builders  siphoned  funds  into  other  projects  and inactive  authorities  resulted  continued  exploitation  of  homebuyers since 2010 in Noida Extension; and
- (e) if  so,  the  reaction  of  the  Government  thereto  including  forfeiting project  by  the  Real  Estate  Regulatory  Authority  (RERA)  in  public interest whenever the delay occurred due to Government authorities?

## ANSWER

MINISTRY OF HOUSING AND URBAN AFFAIRS

## THE MINISTER OF STATE IN THE (SHRI KAUSHAL KISHORE)

- (a) to  (e):  'Land'  and  'Colonization'  are  state  subjects.  The  data sought  is  not  maintained  centrally  by  Ministry  of  Housing  and Urban Affairs.

In  order  to  protect  the  interest  of  homebuyers  and  to  ensure transparency and accountability in the Real Estate Sector, Parliament has enacted the Real Estate (Regulation and Development) Act, 2016 (RERA). Under the provisions of RERA, the Real  Estate  Regulatory  Authority  of  the  concerned  State/Union Territory  (UT)  is  required  to  register  and  regulate  real  estate projects and real estate agents registered under RERA. Further, on lapse or revocation of the registration under RERA, the Regulatory Authority  in  consultation  with  the  appropriate  Government  is empowered to take action for carrying out the remaining development  works  of  the  project  by  competent  authority  or  by association of allottees.

Moreover, to give relief to homebuyers of stalled projects, Government has established  a  Special  Window  for  Completion  of Affordable and Mid-Income Housing (SWAMIH investment fund) for funding stalled projects that are net-worth positive and registered under RERA, including those projects that have been declared as Non-Performing  Assets  (NPAs)  or  are  pending  proceedings  before the  National  Company  Law  Tribunal  under  the  Insolvency  and Bankruptcy  Code.  As  on  17 th   March,  2023,  under  SWAMIH,  310 proposals aggregating to ₹31,145 Crores have been approved and this  will  benefit  around  1,91,367  homebuyers and unlock projects worth ₹83,188 Crore.

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