Source: TOI
Context:
The Union government is set to soon operationalise the ₹15,000 crore SWAMIH-2 Fund, aimed at providing last-mile financing to complete stalled housing projects, according to official sources. The move is expected to bring relief to nearly 1,00,000 middle-class homebuyers, whose investments remain stuck despite continuing to pay EMIs on housing loans.
What is SWAMIH-2?
- SWAMIH-2 stands for Special Window for Affordable and Mid-Income Housing – 2
- It is a government-backed fund to give last-mile money to housing projects that are stuck near completion
How will it help?
- Restores trust in the housing market
- Gives money only to viable but stuck projects
- Ensures money is used only for construction
- Helps projects get completed and homes delivered
