Real estate, especially the housing segment, has many financially stressed projects. However, property-focused private equity (PE) funds are in no hurry to put money there.
The reason: lack of clear legal rules and pricing issues.
Last week, property consultancy JLL issued a report that there was an opportunity of $66 billion (Rs 4,700 crore) in stalled residential projects for institutional investors to tap. However, it noted, the year 2019 had seen deals worth no more than $1 billion (Rs 70-odd crore) in this space.
“In my sense, a distressed asset is when an asset of Rs 100 is available for Rs 40. Prices