India, Jan. 8 -- The Government of India has issued a release:
After the approval of the Union Cabinet chaired by Prime Minister Shri Narendra Modi, the Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund was launched in November 2019 as a Government-backed initiative to provide last-mile financing to stalled housing projects, with financial support from the Department of Economic Affairs (DEA), Ministry of Finance.
Reflecting strong deal execution and disciplined capital deployment, the Fund has fully committed its entire investible corpus prior to the end of its investment period on 5th December 2025. The Fund's portfolio comprises more than 145 projects across 30 cities, making SWAMIH the largest residential-focused stress resolution platform in the country.
The Fund is expected to deliver over 1 lakh homes, providing relief to over 4 lakh people.
Progress and Achievements:
The SWAMIH Investment Fund stands as an example of the Union Government's commitment to protecting homebuyers' interests, reviving the housing sector, generating employment, and strengthening the overall economy.
SWAMIH Fund-2:
On 1st February 2025, the Union Finance Minister announced in Budget 2025-26 that SWAMIH Fund-2 will be established, as a blended finance facility with contribution from the government, banks and private investors. This fund of Rs.15,000 crore will aim for expeditious completion of another 1 lakh units.
ABOUT SWAMIH FUND
The SWAMIH Investment Fund is managed by SBI Ventures Limited, subsidiary of State Bank of India and operates as a social impact investment platform, providing last mile funding to distressed residential projects, including those affected by legal challenges, NPAs, or weak developer balance sheets.
The Fund has raised an aggregate corpus of Rs.15,531 crore, with participation from the Government of India, PSU Banks and LIC, to provide priority debt financing to stressed, brownfield and RERA-registered affordable and mid-income housing projects, thereby easing the financial burden on middle-class families who were paying both EMIs and rent due to project delays.
Disclaimer: Curated by HT Syndication.
