New panel for solving issue of stalled housing project formed

  • April 5, 2023
  • Posted by: OptimizeIAS Team
  • Category: DPN Topics
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New panel for solving issue of stalled housing project formed

Subject: Polity

Section: National Body

Concept:

  • The Union Housing and Urban Affairs Ministry has set up a 14-member committee headed by former NITI Aayog CEO Amitabh Kant, to examine issues related to stalled real estate projects and recommend various ways for their completion.
  • The panel will deliberate on the issues of legacy stalled projects and suggest ways to complete and hand over these projects to homebuyers in a time-bound manner, the Ministry order states.
  • The ministry has notified the formation of the committee almost a year after the Central Advisory Council (CAC) headed by Housing and Urban Affairs Minister Hardeep Singh Puri decided to set up the committee.
  • Note:Legacy Project means old and hard to complete projects.
New panel for solving issue of stalled housing project formed Polity