FM Hands Over Keys to Homebuyers Under SWAMIH Fund in Mumbai
As India's largest social impact fund for the real estate sector, SWAMIH Fund addresses critical funding gaps for stressed and brownfield residential projects. The fund has successfully completed projects in Mumbai, marking a significant milestone in reso
Swamih FundReal EstateAffordable HousingMumbaiHomebuyersReal Estate MumbaiFeb 17, 2025
This initiative, managed by the société, aims to address the significant funding gaps in the real estate sector, particularly for stressed and brownfield residential projects.
SWAMIH Fund, established in 2019, is a significant step towards resolving the housing crisis in India.
The fund operates under the aegis of the National Housing Bank (NHB) and is managed by the Alternative Investment Fund (AIF) category II.
The primary objective of the fund is to provide much-needed financial support to stalled housing projects, ensuring timely completion and delivery to homebuyers.
In Mumbai, the SWAMIH Fund has already completed several projects, marking a significant milestone in the real estate sector.
The fund has not only provided financial assistance but also ensured transparency and accountability in the project management process.
The successful completion of these projects has brought relief to many homebuyers who had been waiting for years to receive their homes.
The SWAMIH Fund has committed around Rs 10,000 crore to various projects.
This investment has helped in the construction and completion of nearly 20,000 units across different cities in India.
The fund has been instrumental in reviving the confidence of homebuyers and developers in the real estate market.
One of the key features of the SWAMIH Fund is its focus on affordable and mid-income housing.
The fund prioritizes projects that cater to the needs of lower and middle-income groups, ensuring that the benefits of the fund reach those who need it the most.
This approach aligns well with the government's vision of 'Housing for All by 2022'.
The SWAMIH Fund has also played a crucial role in promoting sustainable development practices in the real estate sector.
The fund encourages developers to adopt eco-friendly and energy-efficient construction methods, thereby contributing to the broader goal of sustainable urban development.
In addition to financial support, the SWAMIH Fund provides technical assistance and project management support to the developers.
This holistic approach ensures that the projects are completed on time and to the highest standards.
The fund has also established a robust monitoring and evaluation framework to track the progress of the projects and ensure that the funds are utilized effectively.
The success of the SWAMIH Fund in Mumbai and other cities has set a positive precedent for the real estate sector.
It has demonstrated that with the right support and initiatives, the sector can overcome its challenges and deliver on its promises to homebuyers.
The fund has also helped in creating a more stable and predictable real estate market, which is crucial for fostering long-term growth and development.
As the SWAMIH Fund continues to make strides in the real estate sector, it is expected to play a key role in addressing the housing needs of millions of Indians in the coming years.
The Finance Minister's decision to personally hand over the keys to homebuyers in Mumbai is a testament to the government's commitment to this initiative and its belief in the transformative potential of the SWAMIH Fund.
Frequently Asked Questions
What is the SWAMIH Fund?
The SWAMIH Fund, or the Special Window for Affordable and Mid Income Housing Fund, is a social impact fund established in 2019 to address funding gaps in the real estate sector, particularly for stressed and brownfield residential projects. It aims to provide financial and technical support to ensure the timely completion and delivery of housing units.
Who manages the SWAMIH Fund?
The SWAMIH Fund is managed by an Alternative Investment Fund (AIF) Category II and operates under the aegis of the National Housing Bank (NHB).
What is the primary objective of the SWAMIH Fund?
The primary objective of the SWAMIH Fund is to provide financial support to stalled housing projects, ensuring their timely completion and delivery to homebuyers. It focuses on affordable and mid-income housing, catering to the needs of lower and middle-income groups.
How much has the SWAMIH Fund committed to projects?
The SWAMIH Fund has committed around Rs 10,000 crore to various projects, helping in the construction and completion of nearly 20,000 units across different cities in India.
What role does the SWAMIH Fund play in promoting sustainable development?
The SWAMIH Fund encourages developers to adopt eco-friendly and energy-efficient construction methods, contributing to the broader goal of sustainable urban development. It also provides technical assistance and project management support to ensure the projects are completed to the highest standards.
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