SWAMIH Fund Reaches Milestone of 50,000 Completed Homes Since 2019
The SWAMIH Fund has successfully completed 50,000 homes since its inception in 2019, transforming the lives of homebuyers in stalled projects and redefining impact investing.
Swamih FundHomebuyersImpact InvestingStalled ProjectsAffordable HousingReal Estate MumbaiJan 25, 2025
This achievement not only highlights the fund's commitment to resolving stalled housing projects but also underscores its role in redefining impact investing.
The SWAMIH Fund was established to provide financial assistance to unfinished housing projects, particularly those in the affordable and mid-income segments.
The fund's primary objective is to ensure the timely completion of these projects, thereby addressing the housing needs of a large segment of the population.
The SWAMIH Fund was initiated by the Government of India in 2019 to support the real estate sector, which was facing a significant crisis due to the rise in the number of stalled housing projects.
The fund is managed by the Alternative Investment Fund (AIF) platform of SBI Capital Markets Limited (SBI-CAP).
The AIF platform has a strong track record of managing large-scale investment funds and has been instrumental in the success of the SWAMIH Fund.
Impact on Homebuyers
One of the most significant impacts of the SWAMIH Fund has been on the lives of homebuyers who had invested in stalled projects.
Many of these homebuyers had been waiting for years to see their dream homes become a reality.
The fund's intervention has brought hope and relief to thousands of families, ensuring that their investments do not go to waste.
The completion of 50,000 homes is a testament to the fund's efficiency and the strategic approach it has taken in selecting and supporting projects.
The fund has been particularly successful in urban areas such as Mumbai, Delhi-NCR, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, and Gurugram, where the demand for affordable and mid-income housing is the highest.
Redefining Impact Investing
The SWAMIH Fund has also set a new benchmark in the realm of impact investing.
By focusing on projects that have a direct and positive impact on society, the fund has demonstrated that it is possible to achieve both financial returns and social benefits.
This approach has inspired other investors to look at the real estate sector with a new perspective, encouraging more socially responsible investments.
Future Prospects
Looking forward, the SWAMIH Fund is poised to continue its mission of completing stalled housing projects and addressing the housing needs of the middle and lower-income groups.
The fund aims to scale its operations and explore new opportunities to further its impact.
With the government's continued support and the fund's proven track record, the future looks promising for the SWAMIH Fund and the homebuyers it serves.
About SBI Capital Markets Limited (SBI-CAP)
SBI Capital Markets Limited (SBI-CAP) is a leading investment banking and financial services company in India.
It is a subsidiary of State Bank of India (SBI), the country's largest bank.
SBI-CAP has a strong presence in various financial services, including debt and equity underwriting, project finance, and portfolio management.
The company's expertise and experience have been crucial in the successful management 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 financial assistance fund established by the Government of India in 2019 to support the completion of stalled housing projects in the affordable and mid-income segments.
What is the main objective of the SWAMIH Fund?
The main objective of the SWAMIH Fund is to ensure the timely completion of stalled housing projects, thereby addressing the housing needs of a large segment of the population and providing relief to homebuyers who have invested in these projects.
How many homes has the SWAMIH Fund completed since 2019?
The SWAMIH Fund has successfully completed 50,000 homes since its inception in 2019.
Which cities has the SWAMIH Fund primarily focused on?
The SWAMIH Fund has primarily focused on urban areas such as Mumbai, Delhi-NCR, Bengaluru, Chennai, Hyderabad, Pune, Kolkata, and Gurugram, where the demand for affordable and mid-income housing is the highest.
What is the role of SBI Capital Markets Limited (SBI-CAP) in the SWAMIH Fund?
SBI Capital Markets Limited (SBI-CAP) manages the SWAMIH Fund through its Alternative Investment Fund (AIF) platform. SBI-CAP's expertise and experience have been crucial in the successful management and operation of the fund.
Related News Articles
Gaikwad Leads Maharashtra's Impressive Show in Ranji Trophy Group A
Maharashtra's strong reply against Mumbai in the Ranji Trophy Group A match, led by Gaikwad's brilliant performance, has set the stage for an exciting cricketing showdown.
Godrej Properties Sells Rs 1000 Crore Worth of 90 Luxury Homes in Gurugram; Stock in Focus
Shares of Godrej Properties are in focus after the real estate developer announced the successful sale of 90 luxury homes worth over Rs 1,000 crore in Gurugram. This significant achievement highlights the growing demand for high-end residential properties in the region.
Century Real Estate Set to Develop 8 New Housing Projects in Bangalore
Century Real Estate has announced ambitious plans to construct eight new housing projects in Bangalore, aiming to meet the growing demand for residential spaces in the city.
Maha RERA to Appoint Retired Tehsildars for Recovery in Mumbai
The Maharashtra Real Estate Regulatory Authority (MahaRERA) is set to appoint retired Tehsildars to aid in the recovery of funds and resolve disputes in Mumbai and Pune.
Orient Technologies IPO: A Detailed Analysis of the Cement Maker's Public Offering
Indian cement makers have seen a surge in demand due to increased infrastructure spending and a booming real estate sector. Here's a detailed look at Orient Technologies' IPO
Free Gaza or Gaza for Free? Trump’s Real Estate Interest
Sen. Marco Rubio was traveling in Guatemala when he first heard about the idea while watching Donald Trump’s news conference on TV, according to a CNN report. Trump’s interest in the Gaza Strip has raised eyebrows, especially given his background in real