The housing and urban affairs ministry has set up a committee headed by former CEO of Niti Aayog, Amitabh Kant to examine the issues related to legacy stalled real estate projects in the country and recommend ways to complete them.
The ministry notified the committee almost a year after the Central Advisory Council (CAC) headed by Union housing and affairs minister Hardeep Singh Puri had decided on the move.
The committee shall submit its report within six months suggesting ways to "complete and handover" these projects in a "time bound manner". The 14-member committee comprises of top central and state government officials, including Union finance and corporate affairs secretaries, secretaries from UP and Haryana governments, chairperson of Insolvency and Bankruptcy Board (IBB), chiefs of real estate regulators and chief investment officer of the SWAMIH investment fund.
Source: Economic Times
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