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Mahesh

06/03/23 08:20 AM IST

SWAMIH Fund completes 20,557 homes since inception in 2019

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  • The Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund I is India’s largest social impact fund specifically formed for completing stressed and stalled residential projects.
SWAMIH Fund 
  • The Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund I is India’s largest social impact fund specifically formed for completing stressed and stalled residential projects.
  • The Fund is sponsored by the Ministry of Finance, Government of India, and is managed by SBICAP Ventures Ltd., a State Bank Group company.
  • The Fund has no precedent or comparable peer fund in India or the global markets.
  • It is a Category-II AIF (Alternate Investment Fund)debt fund registered with SEBI
  • Since the Fund considers 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 where there are litigation issues, it is considered as the lender of last resort for distressed projects.
Projects Under SWAMIH
  • SWAMIH has so far provided final approval to about 130 projects with sanctions worth over Rs 12,000 crore.
  • The Fund has completed 20,557 homes and aims to complete over 81,000 homes in the next three years across 30 tier 1 and 2 cities.
  • The Fund has been able to complete construction in 26 projects and generate returns for its investors.
  • The Fund has also played a critical role in the growth of many ancillary industries in real estate and infrastructure sector having successfully unlocked liquidity of more than Rs. 35,000 crore.
  • One of the biggest projects that it finished successfully was the Rivali Park residential project, located in Borivali, Mumbai, in 2021.
  • Spread over seven acres and consisting of 708 units of various configurations, the residential area was developed by CCI Projects Pvt Ltd.
Source- PIB

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