Source: HT
Context:
The Government of India is in the process of launching SWAMIH Investment Fund II, a â‚ą15,000-crore fund aimed at completing stalled housing projects and providing relief to distressed homebuyers.
The announcement was made by Nirmala Sitharaman in Parliament.
About SWAMIH Fund
Full Form
- SWAMIH: Special Window for Affordable and Mid-Income Housing
Key Features of SWAMIH Investment Fund II
1. Fund Size
- Total corpus: â‚ą15,000 crore
2. Objective
- Complete 1 lakh (100,000) stalled housing units
- Provide relief to:
- Homebuyers with stuck investments
- Projects facing funding constraints
3. Target Segment
- Affordable housing
- Mid-income housing projects
4. Implementation Status
- Fund is currently under process of formal launch
Background
SWAMIH Fund I
- Launched in 2019
- Managed by:
- State Bank of India (SBI-led entity)
Purpose:
- Provide last-mile funding for stalled housing projects
Outcome:
- Helped revive several delayed real estate projects
- Delivered homes to thousands of buyers
