Good news for those who booked flats in these 3 societies of Noida Extension, relief to 900 home buyers
There is a relief news for 900 flat buyers of Capital Athena. Rs 165 crore has been released from Swamy Fund (Special Window for Affordable and Mid Income Housing) set up by the Government of India to Capital Athena Residential Project at Greno West as the second installment of the stress fund. The first installment was received in May. Capital Athena is the first project in Greater Noida to get financial support from Swami Fund. The builder has also paid the second installment (about Rs 17 crore) of the outstanding premium amount to the Greno Authority out of this amount. This has cleared the way for the 900 buyers of the project to get shelter soon.
In fact, in 2019, Union Finance Minister Nirmala Sitharaman had announced a Swami Fund of 20 thousand crores. SBI Capital was given the responsibility of completing the incomplete residential projects by providing financial assistance. Many builders applied to get help from this fund. First, Capital Athena was helped by a stress fund. Capital Athena became the first project in Greater Noida to be supported by stress funds. Greno Authority CEO Narendra Bhushan said that SBI CAP releases stress funds only to those projects, which are in a state of construction. More builders should come forward to get stress funds.
Panchsheel Hynish 2 and Sikka Group also in queue
Rs 249 crore has also been approved from stress fund to Panchsheel Highnish Two. The first installment to Panchsheel has been released in October last. With this the construction of the project is going on and the Greater Noida Authority has also got the outstanding installment of premium amount (about 34 crores). With the construction of Panchsheel Highnish Two, 1300 flat buyers will be able to get houses. Sikka Group has also got approval from the stress fund.
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