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Experts applaud IBC’s role in reviving stalled real estate projects

IANS
Updated: February 19th, 2025, 21:02 IST
in Business
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New Delhi: The Post Graduate Insolvency Programme (PGIP), Indian Institute of Corporate Affairs organised a conclave Wednesday at Manesar on the outskirts of the national capital, highlighting the success of the new Insolvency and Bankruptcy Code (IBC) in shaping the successful resolution of distressed assets in the real estate sector.

The conclave featured discussions centred around the theme “Resolving Insolvencies in Real Estate Projects” with keynote addresses from prominent industry professionals, including Anuj Jain and Pallav Mohapatra.

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The keynote address mainly focused on the development of real estate insolvency and the role of the Insolvency and Bankruptcy Code (IBC) in shaping the successful resolution of distressed assets in the real estate sector.

Mohapatra also highlighted the challenges faced by Insolvency Professionals and the relevant skills required for sector-specific insolvency resolution.

The panellists included various professionals from insolvency entities, law firms, ARCs and academicians from across the country. Leading domain experts expressed their views on the issue.

The PGIP Conclave 2025 served as a vital platform for professionals to exchange knowledge and stay abreast of developments in the insolvency domain.

The discussions come in the backdrop of the big boost to real estate in the Budget for 2025-26 with its focus on housing, economic resilience, and tourism-led growth.

The Rs 15,000-crore SWAMIH Fund 2 will fast-track the completion of 1 lakh stalled housing units, restoring liquidity and boosting homebuyer confidence.

Targeted rental housing incentives and self-occupied home tax benefits announced in the budget are expected to further drive demand for homes, particularly among urban and middle-income buyers.

Additionally, the development of 50 top tourist destinations will unlock vast opportunities in hospitality, retail, and urban infrastructure, reinforcing tourism as a key economic driver.

According to CRISIL, the bad loan recovery rate for residential real estate projects is expected to increase to 16–18% by the end of FY25. This is due to higher property prices, improved demand, and more investor interest in reviving stressed projects.

IANS

Tags: Crisil boardIBCNew Delhireal estate sectorSWAMIH
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