BUDGET
Allocate INR 150 bln for SWAMIH Fund 2 to build 100,00 housing units
This story was originally published at 15:16 IST on 1 February 2025
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--BUDGET: Another 40,000 units to be completed in 2025 under SWAMIH scheme
--BUDGET: To set up SWAMIH fund 2 as blended finance facility worth INR 150 bln
--BUDGET: SWAMIH fund 2 to aid housing for 100,000 units
NEW DELHI – Finance Minister Nirmala Sitharaman Saturday announced that the government will establish a second fund named Special Window for Affordable and Mid-Income Housing 2, or SWAMIH 2, with an outlay of INR 150 billion for the completion of 100,000 dwelling units.
"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," Sitharaman said while presenting the Union Budget for 2025-26 (Apr-Mar). "Another forty thousand units will be completed in 2025, further helping middle-class families who were paying equated monthly instalments on loans taken for apartments, while also paying rent for their current dwellings," she said.
SWAMIH Fund 2 will be established as a blended finance facility with contribution from the government, banks, and private investors, she said.
The fund was announced in 2019 and provides priority debt financing for the completion of stalled housing projects that are in the affordable and middle-income housing sector. The fund was set up as an Alternate Investment Fund and the first AIF under the special window, with SBI Ventures assigned as the Investment Manager. End
Reported by Shubham Rana
Edited by Akul Nishant Akhoury
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