Ushering in a ray of hope for buyers of stalled housing projects, govt on Saturday announced a fresh Rs 15,000 crore “
SWAMIH Fund
” for completion of 1 lakh units across various cities.
In Nov 2019, the Centre announced the stress fund named “Special Window for Affordable and Mid-Income Housing” (SWAMIH). The first fund, with corpus of Rs 15,530 crore, is being managed by SBICAP Ventures Ltd, a SBI group company.
Now, it’s time for SWAMIH Fund-2.
So far, 50,000 dwelling units in stressed housing projects have been completed and keys have been handed over to
homebuyers
. Another 40,000 units will be completed in 2025. “SWAMIH Fund-2 will be established as a
blended finance facility
with contribution from the govt, banks and investors. This fund of Rs 15,000 crore will aim for expeditious completion of another 1 lakh units,” the FM said.
