On 1st Feb 2025, the Finance Minister announced the second instalment of the SWAMIH fund worth ₹15,000 crore, aiming to complete 1 lakh stalled housing units. The fund has raised ₹15,530 crore to provide priority debt financing for stressed, brownfield, and RERA-registered affordable and mid-income housing projects. So far, 50,000 homes have been delivered, with another 40,000 expected by 2025, easing the financial burden on middle-class families paying both EMIs and rent. The fund has sanctioned ₹12,000 crore across 130 projects, ensuring delayed housing developments are completed.
Managed by SbiCap funds, the Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund is a social impact initiative dedicated towards reviving stalled residential projects. With the financial support the Ministry of Finance provides, the fund works as a last resort for distressed developments, such as those with legal challenges, NPAs, or weak developers.
The funding ensures the project is completed, sales and collections are stalled, and overdue projects are returned. With one of the largest domestic real estate private equity teams, SWAMIH remains focused on financing and overseeing the timely delivery of affordable and mid-income housing.
The SWAMIH Investment Fund was launched in November 2019. Having raised Rs. 15, 530 crores with an aim provide priority debt financing to stressed, brownfield, and RERA-registered affordable and mid-income housing projects the fund has already delivered 50,000 homes have been delivered, with another 40,000 expected by 2025.
The Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund plays a crucial role in reviving stalled real estate projects and ensuring homebuyers receive their delayed homes.
The key benefits include:
A project is eligible for funding if it meets the following criteria:
In conclusion, the SWAMIH Investment Fund is pivotal in revitalising stalled housing projects, particularly in the affordable and mid-income segments. Providing financial aid to troubled developers helps rebuild delayed homes and has them delivered to rightful owners, thus decreasing the financial burden faced primarily by middle-class families.
This helps further to push the growth in the real estate sector, provide jobs, increase liquidity, and decrease the load on the banking system. As the fund continues to facilitate the completion of over 1 lakh housing units, it stands as a cornerstone in India’s journey toward providing affordable housing for all and driving economic growth.
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