33 projects approved under SWAMIH (stress fund) entailing an investment of Rs 4,197 cr
New Delhi: As many as 33 residential projects have been given final approval under SWAMIH (Special Window for Affordable and Mid-Income Housing) fund or the stress fund entailing an investment of Rs 4,197 crore. These 33 projects have a total of 25,048 houses, Union Finance Minister Nirmala Sitharaman has informed.
In a tweet today, Sitharaman said that a total of 123 housing projects have been approved under the SWAMIH fund, or the stress fund as proposed by the homebuyers’ body FPCE, which will have an investment of Rs 12,079 crore. These 123 projects have a total of 81,308 houses.
These projects are located in a number of cities like Delhi NCR, Mumbai, Pune, Chennai, Bengaluru and a number of smaller cities.
SWAMIH Investment Fund has been functioning under the aegis of SBI Capital and aims to provide financial assistance to those real estate projects that are RERA-registered and fall under category of affordable projects. The stuck projects will get funding through the fund for completion. Late last year, Union Cabinet had approved the proposal to set it up.