SWAMIH completes its first residential project.

  • IASbaba
  • May 14, 2021
  • 0
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SWAMIH completes its first residential project.

Part of: GS Prelims and GS – II – Policies and governance

In news

  • Union Minister for Finance & Corporate Affairs handed over possession to homebuyers as Special Window for Affordable & Mid-Income Housing (SWAMIH) Fund completes its first residential project.

Key takeaways

  • The residential project – Rivali Park, located in suburban Mumbai, was the first housing project in India to have received funding under the SWAMIH Fund. 
  • The SWAMIH Fund was launched in 2019. 
  • Rivali Park Wintergreens is the first investment by the Fund and is also the first project to get completed.
  • The SWAMIH Investment Fund is one of the largest private equity teams in India and has done commendable work despite COVID-19 related restrictions.
  • The Fund is targeting to complete an aggregate of 1,16,600 homes.
  • This Fund is bridging the trust deficit between homebuyers and developers by completing construction and delivering homes without depending on any other source of finance.

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