Stuck in a stalled housing project? How SWAMIH Fund-2 can help

Key points

• Picture credit: ANI Which projects are eligible?
• 1. Stalled due to lack of funds 2. RERA-registered 3. Affordable or mid-income housing 4. Net worth positive 5. Nearing completion SWAMIH Fund-2 The next phase “SWAMIH Fund-2 will be established as a blended finance facility with contributions from the government, banks and private investors.
• This fund of ₹15,000 crore will aim for expeditious completion of another one lakh units.” What has SWAMIH achieved so far?
• The Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund was launched in November 2019 as a government-backed initiative to provide last-mile financing to stalled housing projects, with financial support from the Department of Economic Affairs, Ministry of Finance.Homebuyers do not apply to SWAMIH directly.
• The fund operates at the project level, and applications are made by the developer or, in applicable cases, through the relevant legal proceedings.