Govt sets up panel to find way forward for stalled realty projects

The Centre's move to set up a panel to examine issues related to stalled real estate projects and suggest ways for their completion is a step in the right direction, homebuyers' body FPCE said on Tuesday.

The grouping also expressed hope that practical solutions would emerge for benefits of all stakeholders but rued that the panel does not have anyone representative of homebuyers.

The Forum For People's Collective Efforts (FPCE), an umbrella body of homebuyers, had played an important role in enactment and implementation of RERA.

Union Housing and Urban Affairs Ministry has set up a 14-member committee headed by former NITI Aayog CEO Amitabh Kant to examine the issues related to stalled real estate projects and recommend ways to complete such projects.

FPCE President Abhay Upadhyay said setting up of the panel is definitely a step in the right direction and a very welcome move to resolve the issues of pre-RERA delayed project.

"The credibility, intent, seriousness and effectivenes