October 10, 2020

Over 30 housing projects worth Rs 4,197 crore accorded final approval under SWAMIH

NEW DELHI: 33 housing projects with an investment of Rs 4,197 crore got a final approval under the Special Window for Affordable and Mid-Income Housing (SWAMIH) fund. This will lead to the completion of 25,048 home units, Finance Minister Nirmala Sitharaman stated on Thursday.

In a tweet, she said that “SWAMIH is working at a fast pace to provide relief to homeowners. Overall, 123 projects have been now sanctioned including final approval to 33 projects with an investment of Rs 12,079 crore that will target to provide relief to 81,308 homeowners.”

The investment fund of SWAMIH has been formed to complete the construction of stalled, RERA-registered affordable and mid-income category housing projects which are paused due to insufficient funds. In November 2019, the Union Cabinet had cleared a proposal to set it up.

The SWAMIH Investment Fund I will enable the completion of nearly 60,000 homes across India.

Projects like this are spread across a mix of markets. It includes large cities such as National Capital Region (NCR), Mumbai Metropolitan Region (MMR), Bengaluru, Chennai, Pune, and also tier 2 locations including Karnal, Panipat, Lucknow, Surat, Dehradun, Kota, Nagpur, Jaipur, Nashik, Vizag, and Chandigarh.

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