The Supreme Court on Friday called upon the Union government to protect the interests of homebuyers and made a number of suggestions to prevent the liquidation of viable residential projects.
It asked the Centre to consider establishing a revival fund under NARCL (National Asset Reconstruction Company Ltd) and expanding the SWAMIH (Special Window for Affordable and Mid-Income Housing) Fund to provide bridge financing for stressed projects undergoing Corporate Insolvency Resolution Process.
The bench of Justices J B Pardiwala and R Mahadevan said housing is a facet of the Fundamental Right to Life under Article 21.
The court also suggested the creation of a corporate body on the lines of…