SWAMIH investment fund and its push for affordable housing

The Special Window for Affordable and Mid-Income Housing Investment Fund (SWAMIH) So far, I have raised Rs 15,530 crore.

What exactly is the SWAMIH investment trust?

  • The SWAMIH Investment Fund I is a social impact fund that was formed specifically to complete stressed and stalled residential projects.
  • The Fund is managed by SBICAP Ventures Ltd., a State Bank Group company, and is sponsored by the Ministry of Finance.
  • The Fund is considered as the lender of last resort for distressed projects.

Who can apply for this fund?

  • It takes into account first-time developers, established developers with troubled projects, developers with a poor track record of stalled projects, customer complaints and NPA accounts, and even projects with litigation issues.

The importance of the funds

  • The presence of the Fund in a project frequently acts as a catalyst for improved collections and sales, particularly in projects that have been delayed for years.
  • SWAMIH Fund, according to the Finance Ministry, has one of the largest domestic real estate private equity teams focused solely on funding and monitoring the completion of distressed housing projects.

How many projects has the Fund funded so far?

  • SWAMIH has given final approval to approximately 130 projects totaling more than Rs 12,000 crore.
  • The Fund has completed 20,557 homes and plans to complete over 81,000 homes in 30 tier 1 and 2 cities over the next three years.
  • The Fund has completed construction on 26 projects while generating returns for its investors.
  • It has also played an important role in the growth of many ancillary industries in the real estate and infrastructure sectors, having successfully unlocked more than Rs. 35,000 crore in liquidity.
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