A total of 33 housing projects with an investment of Rs 4,197 crore have been accorded final approval under the Special Window for Affordable and Mid-Income Housing (SWAMIH) fund which will lead to the completion of 25,048 home units, Finance Minister Nirmala Sitharaman said on Thursday.
“SWAMIH is working at a fast pace to provide relief to homeowners,” she tweeted. “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.”
SWAMIH Investment Fund has been formed to complete construction of stalled, RERA-registered affordable and mid-income category housing projects which are stuck due to paucity of 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.
These projects are spread across a mix of markets including 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.