Finance Minister Nirmala Sitharaman on Saturday announced the launch of the second trench of Special Window for Affordable and Mid-Income Housing (SWAMIH) fund of Rs 15,000 crore to help completion of 1 lakh units in stalled housing projects.
In her Budget speech, the finance minister said, “Under the Special Window for Affordable and Mid-Income Housing (SWAMIH) fifty thousand dwelling units in stressed housing projects have been completed, and keys handed over to home-buyers. Another forty thousand units will be completed in 2025, further helping middle-class families who were paying EMIs on loans taken for apartments, while also paying rent for their current dwellings.”
Earlier in November 2019, the Centre had announced ‘Special Window for Affordable and Mid-Income Housing’ (SWAMIH) to complete stalled housing projects across India.
Reacting on the same, Dhruv Agarwala, Group CEO, Housing.com & PropTiger.com, said, “The Government’s renewed focus on resolving stalled projects is reinforced through the Rs 15,000 crore SWAMIH Fund 2.0, targeting the completion of 1 lakh housing units. With the fund already facilitating the delivery of over 50,000 homes and another 40,000 units expected by 2025, this initiative will play a vital role in restoring buyer confidence and improving liquidity in the sector.”
Arvind Nandan, Managing Director, Research & Consulting, Savills India, said, “The expansion of the SWAMIH-2 Investment Fund is a major boost for India’s real estate sector, particularly in addressing stalled housing projects and supporting middle-class homebuyers. With an additional Rs 15,000 crore allocation, the initiative will help unlock stuck inventory, stabilize property prices, and increase the supply of affordable housing, benefiting both developers and homebuyers.”
Manju Yagnik, Vice Chairperson of Nahar Group and Senior Vice President of NAREDCO- Maharashtra, said, “The launch of SWAMIH Fund 2 with Rs 15,000 crore is a welcome move to revive stalled housing projects, ensuring timely completion and restoring homebuyer confidence. The continued emphasis on affordable and mid-income housing will further drive demand, supporting homeownership aspirations.”