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Sobha Developers: Government's Rs 25,000 crore realty fund a step in right direction

Updated : November 07, 2019 10:11 PM IST

Bengaluru-based Sobha Developers on Thursday said that Narendra Modi government's Rs 25,000 crore alternate investment fund (AIF) is a step in the right direction.

In an interview to CNBC-TV18, JC Sharma, vice chairman and managing director, said, "As far as Sobha goes, it is not looking for any alternative funding either from government or private equity or any other institution as the company is capable of funding their own projects."

Sharma said the government's decision will allow thousands of customers in getting delivery and will indirectly improve the sentiment in the sector, "Improvement in sentiment will benefit all players in the sector."

According to Sharma, this whole funding structure should be in place in about a month’s time and the developers should be able to go through SBI Capital Markets to ensure that viability is proved and fund starts coming in.
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