Govt sets up fund for stalled housing projects
Real Estate

Govt sets up fund for stalled housing projects

A $3.5 billion fund set up by the Indian government to complete stalled housing projects is set to deliver its first set of finished apartments in 2021, which comes as a relief for thousands of affected home buyers and bankrupted developers.

The special window for completion of construction of affordable and mid income housing projects (SWAMIH) fund was announced in November 2019. SWAMIH is a social impact fund to complete the construction of stalled housing projects.

Irfan A Kazi, Chief Investment Officer at SBICAP Ventures Ltd, the government appointed manager of the alternative investment fund, said the fund would hand over around 16 projects or more than 4,000 homes in the financial year starting April 1.


Make in Steel 2021

24 February 

Click for event info


4th Indian Cement Review Conference 2021

17-18 March 

Click for event info


India had an estimated $63 billion of such stalled projects as an economic slowdown and a credit crisis cascaded through the market.

Real estate developers were unable to service their loans, forcing banks to write off the debts and worsen what was already one of the world’s biggest bad loan piles.

The Centre had created the fund as a measure to unclog the financing pipes.

Image: The affordable and mid income housing projects market in India is valued at $63 billion.


Also read: Real estate sector seeks Rs 1.25 lakh cr stress fund

A $3.5 billion fund set up by the Indian government to complete stalled housing projects is set to deliver its first set of finished apartments in 2021, which comes as a relief for thousands of affected home buyers and bankrupted developers. The special window for completion of construction of affordable and mid income housing projects (SWAMIH) fund was announced in November 2019. SWAMIH is a social impact fund to complete the construction of stalled housing projects. Irfan A Kazi, Chief Investment Officer at SBICAP Ventures Ltd, the government appointed manager of the alternative investment fund, said the fund would hand over around 16 projects or more than 4,000 homes in the financial year starting April 1.Make in Steel 202124 February Click for event info4th Indian Cement Review Conference 202117-18 March Click for event info India had an estimated $63 billion of such stalled projects as an economic slowdown and a credit crisis cascaded through the market. Real estate developers were unable to service their loans, forcing banks to write off the debts and worsen what was already one of the world’s biggest bad loan piles. The Centre had created the fund as a measure to unclog the financing pipes.Image: The affordable and mid income housing projects market in India is valued at $63 billion. Also read: Real estate sector seeks Rs 1.25 lakh cr stress fund

Next Story
Real Estate

Rethinking Slum Development

In July 2024, the Supreme Court directed the Bombay High Court to initiate suo motu proceedings to evaluate the implementation of the Maharashtra Slum Area (Improvement, Clearance and Redevelopment) Act.During the ensuing proceedings, the Division Bench of Justices expressed concern about the plight of slum dwellers, saying, “Merely because you are a slum dweller doesn’t mean that you are left to the discretion of developers. They end up with a pittance.” The Bench also noted that the buildings allocated to slum dwellers were akin to “vertical slums”. “The buildings are congested. ..

Next Story
Real Estate

Ring in the New!

Lighting:OLED (organic light emitting diode) panels such as those by Philips are the latest option in soft lighting fixtures that can be embedded into walls, ceilings or furniture, says Nilesh Sawant, Principal Architect, Nilesh Sawant Architect. “Being thin and flexible, they lend themselves well to different applications while delivering the energy-efficiency associated with LED technology.”And Sapna Aggarwal, Founder, ANSA Architecture & Interiors, says “Embedded light-emitting diodes can create a dreamy illumination, while dimmable LEDs are useful for allowing..

Next Story
Infrastructure Urban

Jhansi Library

The Jhansi Library, commissioned by the Jhansi Development Authority (JDA) under the Jhansi Smart City initiative and built by Bootes Impex, a net-zero construction-tech company. It is the first library in Asia to achieve EDGE (Excellence in Design for Greater Efficiencies) certification from the International Finance Corporation (IFC), a member of the World Bank Group. This milestone marks the library as India’s first and only net-zero library, aligning  with India’s Net-Zero Vision 2070.Sustainable designDeepak Rai, Managing Director, Bootes Impex, explains, “The project's vision ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000