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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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